Creditors meeting

[Robbieboy]

Such a familiar story Wild Rose, good luck you will feel so much better when it is agreed and you can get your life back on track. The relief (when you let it come) is brilliant. X

[hubert]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Wild Rose

That was our exact situation Hubert. We paid all of our creditors each and every month, juggling all of the different payments, but the total balance has been increasing over the last few years....

Well I can certainly relate to that Wild Rose...

I felt that the moment I stopped paying the entire world would come crashing down around my ears. Not so at all.

First a few polite reminders, then more insistent letters etc... and phone calls.

I've found, the best policy is respond and tell them you're entering an IVA. In most cases they seem willing to freeze your account for a while.

It's when they don't hear anything they seem to get more determined.

I know that notice went out to all my creditors, but every single one of them I spoke to claimed they'd heard nothing so be prepared for this. Despite this they have so far been very reasonable and understanding.

Good luck and I'm sure we'll keep in touch!

[Bigkevt]

I am virtually in the same position. We had to stop the monthly struggle to pay all our creditors when a family member who was helping us every month had a change of circumstance and could no longer help. We are 90% of the way to making a proposal and it feels like it has taken a lifetime. We began the process in march but due to the untimely passing of my Mom I delayed my tax credit renewal. They assure me this will be sorted by the 27th of August and a proposal can finally be submitted. In the meantime I have found most creditors to be understanding of the situation and I agree that communication is the key. At first I ignored them and they became very persistent but when I finally got the courage to speak to them it settled down and they are now being very patient. Good luck