Good Evening Forum !
Should i stii be getting credit card bills from my creditors now i have my IVA up and running since 25th July and should they still keep adding intrest and late payment charges and over limit charges to the accounts ??[:)]
It does take a while - either shred the letters or send them to your IP. As Melanie says, they're computer generated so don't lose any sleep over them.
The interest and charges will have to be taken back off as the companies can no longer put these on.
You could send your letters off to your IP, they can always phone the companies and repeat that you are in an IVA.
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
It took ages for one of our creditors to stop sending us stuff - but like the others have said dont worry as you are protected from day 1 of your IVA.
One thing I might point out to others - this creditor whom took the longest to stop, was our loan which we took out together.
As our IVA is a joint one they had updated their system for my husband - but did not update me. So they where still chasing me for it - I sent the letters into my IVA Company & it eventually stopped. I should of spotted it earlier too as the letters spotted being made out to both of us - 2 just me!
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
It was my understanding that creditors could still add on interest as in theory the iva could fail and they could then persue for a higher figure. Of course if the IVA is completed then it doesn't matter how much more interest is added on.
I think they would only add it on if the IVA failed. I don't think they can do it while it's up and running.
Of course I could be wrong!
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
An Individual Voluntary Arrangement (or IVA) is an official debt repayment plan that includes the freezing of interest, reduction in the total amount of debt owing, and legal protection from creditors as long as the terms of the IVA are adhered to.
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
