ball rolling

[bustedbert]

I just supplied my debt figures to Vincent Bond, they are now drawing up a proposal for me as an iva.Hope this is the beginning of the end so to speak, really nervous.[:I]

[kallis3]

Your feelings are perfectly natural - we've all been there! I am sure you will be fine.

[bustedbert]

thanks i see there are lots of people in the same boat, i personaly hoped it wouldnt come to this, but now it has its nice to know there is much support here and from practioners.some people have problems with drugs others with debt , we all need help to overcome it at some point.

[kallis3]

This is a brilliant support site. The advice is some of the best around.

[bustedbert]

oh well off to work now, i stop by tomorrow and let you know if any thing has happened and how i get on. thanks for the support.

[Shining]

Good luck with your IVA proposal. I'm sure you'll be fine and what you're experiencing is completely natural. x

[Struzzo39]

Good luck from us too x

[SharonC]

Good look with your proposal. Everyone on here knows exactly how you feel, you're not on your own. Kallis3 is right the advise you get on here is fab

[bustedbert]

hi all, will have iva pack tomorrow probably,
thanks for the support.been advised to stop paying creditors and get new bank account.

[kallis3]

Well done, you've taken that all important first step.

Co-op come recommended for a basic bank account.

[animaleyes76]

Good luck, you'll be fine and everyone on here will always answer questions where they can

[bustedbert]

thanks for that, its prob just for my wages to be paid in is it, will the iva practitioner set up an account for the iva process to be monitored.

[luluj]

Yep - you need to open a new account for your wages and direct debits to go through - it needs to be with a bank that is not associated to any of your lines of credit.

Your IVA when approved will be administered by the IP and you will be asked to set up either a standing order or direct debit to them - they then collect the monthly payment from you and periodically will pay a % to each creditor and take their fees. You need not worry about this side of things.

Once your IVA is approved your involvement with creditors ceases - your IP will do all the work for you !

[kallis3]

The account will be to replace the one you use now if they are a creditor and you'll need to use this for the duration of your iva. As Lulu says, your ip will sort your iva out and you'll just make monthly payments to them.

[bustedbert]

i pay car insurance monthly how dose this work will it be scrapped.