Wanted to pick your brains. My creditors meeting is set for the 14th March but I am receiving letters, calls and emails from one company in particular (cash genie - a payday loan company I am ashamed to say) who are threatening me with bayliffs? What do I do? I explained my IVA to them and they should by now have a copy of my proposal but all the man said was that it was a different dep. and made no difference as my account until that date will be in arrears so they can send them to get the amount owed. Please help, I am worrying yet again....
First all don't panic ! Very unlikely bayliffs will come knocking. I would give all the details to your IP and ask them to contact them to put a stop to this - you only have a couple of weeks now and before you know it you will be secure in an IVA !
Keep posting on the forum and we will support you where we can !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
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
This is the email I got from them - I feel seriously ill - I think I may just phone and pay it - a very very tight near impossible month if I do though. I am so upset now and in tears - I wan't this all to go away. Here is the email I received:
Following our recent email informing you of your outstanding balance, I am disappointed that you have not made contact to either settle your outstanding balance or discuss repayment options. As per our consumer credit agreement and as you have failed to make contact, I am forced to add the late payment fee and appropriate administration charges. Your outstanding balance is now shown above. If you make contact immediately, I may be able to reduce your balance.
Your account has now been passed to our Credit Control Team, however within seven days this will be shared with a debt collection agency to assist in the recovery. I would like to remind you that Cash Genie UK ltd operates a firm but fair recovery policy and all of the actions below are used to assist in the recovery of outstanding balances. It is also only fair to inform you at this stage that any cost incurred will be added to your outstanding balance. This may significantly increase your debt.
* Information is shared with other payday loan companies to prevent further similar lending.
* Tracing Agencies. If we are unable to confirm your address or believe that you are in the process of moving. We may also instruct a tracing agency if we have no valid telephone numbers for you or if contacting you becomes exhausted.
* Debt Collection Agencies.
* Door Step Collection Agencies.
* If we believe that you have obtained this loan using false information, we may contact the police and insist on a criminal prosecution.
* Registering a default with credit reference agencies. We will release full details of the loan i.e. loan amount and the interest payment that you were unable to repay. This will be made available to other creditors. This may severely affect your ability to obtain further credit.
* County Court Judgment (CCJ). This may severely affect you obtaining further credit.
* Any enforcement costs to obtain an attachment of earnings order or a warrant of execution (bailiffs) will also be added to any outstanding balance.
This outstanding balance will not disappear by ignoring this letter. You will only incur further costs, charges, interest and legal action.
Hi Frenchie
Please don't worry ( I know this is easier said than done)but this is standard communication from credit control department. It is important that you do not pay this as you will be seen to be showing preference to one creditor. Jan's link as to what bailiffs can do will make excellent reading for you, and having got so far it is now a case of holding your nerve, as soon all will be well. Have to say that for me it was a difficult time dealing with creditors phone calls but they do try and bully you, dig your heels in and you will be fine....
Frenchie - please don't worry or let this get to you. It's standard bullying tactics by this firm. You are so close to your meeting now, please don't pay them. Speak to your IP on Monday and tell them about it. The company know that you are proposing an IVA.
Don't worry about the extra charges, it won't affect you or your application and they do not have time to take any legal action.
You are not a criminal at all, they cannot get a CCJ in the next couple of weeks.
Hang in there, we're here to support you and just let your IP know about this.
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
Please don't worry we were in a similar situation with a company called Link Financial who got as far as getting a warrant of execution through the county court. We didn't get a visit from the bailiffs and we got the warrant suspended and then revoked. Some of these creditors are nothing more than bullies. Everything will be fine. x
I hate these companies who put the fear of God into people. You are quite safe Frenchie, I hope we have managed to put your mind at rest.
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
Hi frenchie, it does look scary in black and white but as others have said it's unlikely they'll take any action and your meeting date is very close and once that's here and accepted you'll be protected within your IVA. Hang in there, you're almost there. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
They cannot engage bailiffs without a Court Order and from the tone of their letter - which I actually think is quite tame compared to some I have seen - it seems that this is a long way off for you. Your creditors meeting is bound to occur first, and so long as your proposals are accepted they can't touch you.
How are you today Frenchie? I hope we have been able to help you out.
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
Bully boy tactics, just ignore them as others have said.
They will need to go to court to get a bailiff appointed, and if it ever got that far, which I doubt, and the judge has been made aware that a IVA is in place he will no doubt have something to say about wasting the courts time.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
They are bullies - hopefully Frenchie will have taken our advice on board and told them where to get off!
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
thank you all for the advice, I am feeling much better now and have decided to ignore them for now, I have made them aware of our situation so I can't really do more than that. Thank you for the advice xxx
