Token payments

ld54336

Hello

I have my creditor meeting booked for 5th May. Do you think i should bother sending out my token payments on 1st May? Bearing in mind that every other month- i've sent the token payments and on most accounts it doesn't show until at least the 18th (don't know why but its been a pain in the a**e being chased every month for a payment i've already made!)

Anyway- do creditors look at token payments when making their vote? as when i had my first Payplan interview- they told me that i could pay "as little as £1" as it "makes no difference"

Any ideas???

memberme

Well your token payments should be a pound or 2 to each, so it is not going to break the bank and at least you are showing willing still. Depending on your debts the token payments are usually so small to make little difference. But it all goes towaerds removing the debt

xdaisyx

on my payplan letter informing me of the date of my creditors meeting, it said that i should not make the last token payments because the first payment to payplan is due on the day of your meeting (if you are accepted)

good luck

Nargleblast

I think, once you submit a proposal to the creditors, you are not supposed to make any more payments from that date - I am sure it will tell you somewhere in all your correspondence with your IVA firm. Good luck.