IVA Newbie

travelman65

Hi,

I have just been through the very initial stage of debt relief, where they have recommended a IVA , so that's scary in itself, but the thing that bothers me the most is contacting my creditors to advise that I need breathing space and cant make the minimum repayments.

Does anyone have any suggestions, or the best way to do this?

A long way to go, but finally faced it....

Thanks

sourcrates

Hi,

I wouldn't worry too much about it to be honest, debt collection is a very long process, nothing happens overnight, and creditors are well used to these situations, so relax.

National Debtline have a wide range of template letters and fact sheets, on there website.

This is a link to the letter you need, send a copy to each creditor, try not to worry as nothing will happen if you miss a couple of payments :

https://www.nationaldebtline.org/EW/sampleletters/Pages/Hold-action-on-your-account-%28sole-name%29.aspx