Payments to creditors?

beck1991

deleted post

debtfree2016

Hi Beck
On the the forum page you will see a thread that I created IVA and stoppind Direct Debits you may find some of the information usefull. I personally have continued to make payments up until signing with an IP although when really looking into an IVA I would strongly recommend https://www.iva.com for further advice. Best of luck and I hope this helps you.

beck1991

Thanks, I had a read through & some good advice on there. So should we keep paying if we can stretch the budget that far till our iva is further on? I'm really scared that (as I've seen other people say) our's will be one of the few that the creditors say no to :eek:

debtfree2016

Hi Beck1991, sorry for not posting agian lastnight... not sure why but my username has changed.. is should be marklinard... oh well

Yes i would say if you can afford to make payments until you have signed any forms or you feel you can make these payments anymore. If it does become very tight look at the interest on your cards and maybe try to match that, my creditors meeting has not been finalised yet but mine could also fall through im offering 49p in £1 whihc is very good and better than nothing.

Keep the faith who ever you decide to go with will only take your case on if they feel the can get the IVA for you.

Keep posting

beck1991

Thanks for the support, having a bad day today. Supposed to be meeting up with some fellow mum's but can't face pretending to be fine.

Hope your's goes ok, do you have a date yet?

judojub

HI beck
Not completely sure what your OP was asking but, get in touch with one of the following to discuss your circumstances (if you haven't already done so)

• Consumer Credit Counselling Service: Full debt help service. Link: CCCS Tel: 0800 138 1111 Opening times: M-F 8am-8pm
• National Debtline: Full debt help service. Link: National Debtline Tel: 0808 808 4000 Opening times: M-F 9am-9pm, Sa 9.30am-1pm
• Citizens Advice Bureau: Full debt and consumer advice service. Link: Citizens Advice or visit your local CAB centre (find nearest) Opening times: different for each bureau

If an IVA is something you are considering, then as Marklinard/Debtfree? suggested go over to https://www.iva.com. There are a list of companies on there (with reviews). Give 2 or 3 of them a ring and they will be able to give you some free and impartial advice on your situation.
As for paying creditors, it's entirely up to you. I personally didn't bother once I had decided on the IVA. I decided to keep the money and try to build up a contingency fund.
If you decided to make token payments to your creditors then you cannot favour one over the other. So, if you pay £5 to one then you must pay £5 to all.
Best of luck. Let us know how you get on.

debtfree2016

Hi Beck1191, I don't have a date yet, but the paperwork is in the post with a list of all my creditors awaiting a response. i'm using Payplan who have been very helpfull, the more communication you have ith your IP and this Forum will help you, knowone judges on this site what you are feel we have all felt. Carry on with you day to day stuff just learn to start budgetting now so when you have you IVA it will become easier. Make sure you open a new bank account ASAP one that is not linked to any of your other Creditors.
Don't forget...... DON'T let this eat you up or control your life... think of it as a start to freedom... yes 5 years is a long time, but you will be getting 5 years of good budgetting and education and realising the value of the £.
Best of luck and keep posting

beck1991

Debtfree yes we are going with payplan too, the mortage company recommended them, only had the first phonecall so far where they took all the details and told us the options, iva definately seems the best option for us so just waiting for them to start the ball rolling. We going to try make the payments as normal this month as we haven't set up new bank accounts yet (although we're on with it). This has been a big shock I had no idea we had a problem till the Easter hols, serves me right really for leaving oh to deals with finances on his own.

It's comforting to know we're not on our own in this thanks

debtfree2016

No Problem

Excuse the spelling mistakes..

beck1991

Hello we have now sent off the required paperwork & letters of authority. Also sorted out basic bank account and transferred dd's, we have decided (after all the advice) to pay £10 each to creditiors and keep any left for emergency fund. So although we've got a long way to go, I feel so much more hopeful than last week.

As i'm self employed I have to attend a meeting, anyone had one of these, is it anything to be concerned about?

Thanks so much for the support & advice so far on this forum, we no longer feel alone

debtfree2016

Hi Beck1991

It can only get better, i have seen postings on this forum regarding meetings and self employed, but can't really comment myself as i'm employed. good luck and keep posting