Creditors Calling

moneysaver09

Hi

We are currently in the process of IVA application (just waiting for them to draft our proposal). We have stopped all payments at present and our main creditor (LLoyds tsb) keep calling. I feel to scared to speak to them.

Am i required to speak to them or can I ignore them or should I write a letter?

Any help would be much appreciated

Thanks

FoggyBrain_2

You are not required to speak to them -- but this will make them more persistant! Simply tell them you are in the process of entering an IVA and give them your IP's details and reference number. They will then be likely to put a stop on calls for 10 days. Don't get drawn into a conversation and don't agree to or offer to make any payment.

Best of luck

gscrym

Once your IVA is set up/finalised, you may get your other creditors calling. This will stop. When I entered my trust deed, every day, there was a pile of demands in the letter box and a load of phone calls, ranging from the creditors to debt collectors saying they're coming to my door. Ignore the phone and if any of them leave messages, listen to it, take a note of the number and contact whoever is managing your IVA and let them deal with it. It's what they're there for. I sent a letter to each of my creditors with details of the trust deed and my trustees phone number. Some wrote back to acknowledge it, some didn't. If it's possible, ask people you want to speak to to use your mobile and turn the sound down on your landline. As previously said, do not make any offer to pay. Hopefully it'll settle down soon but keep in touch with your IVA provider for support. I also used to bundle up all the letters and send them to my trustee. The bundles got smaller with time.

FavDaughter1

Hi, i was so frightened. our main creditor was Lloyds. i couldn't handle the stress so i just didn't pick up the landline for weeks,family rang my mobile so i knew from the display who it was.

we wrote to creditors,told them we were trying to do a IVA &sent the letters recorded delivery,it didn't stop the calls. we got some very scary letters telling us that we'd been passed on to solicitors to collect& possibly start BR against us- scared me to death!!:eek::(, it had me living in fear,not sleeping etc. NOTHING MORE HAPPENED- it is all pressure designed to scare you(it did that very well)into giving them cash,Don't let them bully you!

the best thing we did was to stop all min. payments & save every spare £& penny for a emergency fund.

have you got yourself set up with a different bank account? a basic one,we went with Co Op,found them very good.

our IVA was accepted last month, keep hopeful. post if you're scared - i did! don't let them bully you into paying now,save as much as you can - you'll be so glad you did. you'll get there hang on,
big hug,

bernard828

As others have said:

If you must speak to them:

"I am in financial diffiiculty at this time. I can't pay anyone because an IVA application is in progress. My IP is XXXXXX and my reference number is XXXXXX. They have informed me their target is to set a meeting of creditors for me within the next three weeks. All creditors will receive my proposals at this stage. I cannot make a payment to anyone in the meantime as to do so would leave me overstreched financially and put my IVA application at risk. I would be grateful if you would put my account on hold for three weeks while this is being dealt with."

You can't do much more than that. If they're really persistent, then try paying a token payment of £10 to shut them up.

katiemay_2

I agree, send a letter. There are drafts on the CCCS website. Once I had sent the letter I didn't recieve any more calls.

cherry545

Hi - I totally agree with Foggybrain - I answered the calls and they were able to put them on hold for 10 days. I had made a few token payments to my creditors and it made absolutely no difference to the phone calls, they were still phoning me 3 times a day (in particular M&S they rang me from 8.00 am to 9.00 pm every day).

Good Luck.

moneysaver09

Thanks for all your replies. The only creditor contacting us is TSB Constantly, about 5 times a day on my phone, partners phone and house phone. We sent all the paperwork in on 4th march and they have all they need so just waiting for Proposal to be drafter. Anyone who has dealt with cccs know how long its likely to take now?

Thanks

FoggyBrain_2

No idea with CCCS, but my company took around a week for the draft to get to me, once I had got all the paperwork to them.

Isis_Black

we are in about the same position as you awaiting the draft to be done, had one ceditor call already and my usband has spoken to them.
all he told them was that he was not in the position to talk to them about it as we are gonig through debt management firm at the moment, he then gave the companys name, and our reference number. They accepted that and have now left us alone

strugglebunny

I didnt speak to any of my creditors, just sent them all letters and explained that I would only correspond by letter with them and keep them updated as the IVA process progressed - I think I sent letters every 2 or 3 weeks until my IVA was agreed. In my letters I also asked them to remove my work number and mobile number from their systems, which they did to my surprise! They did still phone my home number but not so often - knowing you have been in contact with them does take some of the pressure off you and for me it made it easier to ignore the phone calls. Good luck and hope it all goes well for you!