I've been reading a lot different areas of the forum today and a simple question I have is: Do all the companies today contact all the creditors on your behalf or do they just send you a proforma document that you have to fill out and send to them?
Your ip.will contact your creditors. It is up.to.you whether or not you wish to as well.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
They wont approach creditors until you tell them to,what they will do is get a list of your debts and a list of your monthly income and expenditure and work out how much they think you can afford to pay,be open and honest about what you spend on things,dont twist figures to suit as it will come back to bite you later.Many people underestimate things so they appear to have higher disposable income then get a big bill for something and end up coming unstuck.
Only after you agree the proposal will your chosen firm start approaching creditors,unless you are unsure of a debt balance,at which point the firm may approach a creditor for a balance figure.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Frank - although the bank don't have branches - you may find you can use Post Office counter services for a lot of the transactions /and of course on line banking
Last edited by ginger3232 on Tue Jan 10, 2012 2:27 pm, edited 1 time in total.
Companies cannot contact your creditors until you have signed an Authority to Act form.
regards,
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You can pay cheques into your cashminder account at the po. I did it yesterday. You need to get some envelopes from the co-op and you just hand it in and they give you a receipt for the envelope.
Cor blimey I spent the afternoon reading this thread "Hi I clearly need an iva but am petrified taking the step". I don't really think I have the mental resolve to go through what "recovering" has gone through (all credit to him/her). It did however open my eyes to a couple of things that I need to get sorted asap.
1) bank account - I am getting there and I thank everyone who has helped.
2) MOST importantly 3 of my loans are registered at work (nothing underhand and I was not hiding anything from my wife, but I did have access to very good loan rates if I got a personal loan through a business contact). It's clear to me that I need to move the contact addresses and numbers from work to my home address with immediate effect.
What was shocking to me was stopping paying people - just now I can't get my head round that but I'm sure I'll be advised properly soon.
Frank - it daunting and scary - especially when the phone call and threatening letters start to arrive from creditors.
The are time when emotions will run all over the place (this is normal - most of us have been there)
Main thing is you chose the right company, understand all your options and commitments to the debt plan you chose and of course question the advice you are given if you don't understand it.
There is of course the Forum - good for a laugh/whine or even a cry.
The vast majority of us do stop paying beforehand - it allows you to build up a bit of a contingency fund.
You will get phone calls and letters from your creditors - no getting away from that.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
