Creditor threats while IVA being set up

laurasbump

We're in the process of setting up an IVA - documentation in, just waiting to meet with IP before creditors meeting is set up. Hoping it'll be in place by end of November.

My OH had a letter from Egg today saying that he's in arrears and unless he pays within 4 weeks the case will be passed on to a collections agency.

Egg have been informed of the impending IVA by ourselves and the IVA company. What should we do if someone comes knocking?

Thanks,

Laura

Beetlebug1983

Hi,

I can only tell you what I have been through with Egg. They passed my account on to Moorcroft Debt Collection agency, but the Egg Credit Card has remianed with them. It is only a threat, and even if they do pass it to a collections agency, they can't come knocking on you door. - I have never been visited!

Hold tight and don't worry, I'm sure your IVA will be set up soon and hopefully the letters will stop!

Good luck & best wishes!

Beetlebug.

memberme

a collection agency is far better to deal with and usually eccepts all offers from yuor IP. This is standard proceedure and most creditors will pass the debt to their ca eventually.

memberme

by the way they are unfortunatley named,,,but they don't mean a bloke in a black coat knocks on the door. They arte often part of the same company or another respectable but independant company

Nargleblast

If, while you are waiting for your IVA proposal to be agreed, any creditor tells you they are passing the debt on to a third party, you just pass the details on to your IP and they will sort it. That is what you pay them for. And you are not allowed to make any payments to creditors ( other than existing DMP payments, and your IP would tell you when to stop these ) while it's all going through anyway, so Egg can go whistle.