How bizarre that your first payment does not have to be made until six weeks time. In which case you are always going to be technically one month in arrears.
MelanieGiles wrote:
How bizarre that your first payment does not have to be made until six weeks time. In which case you are always going to be technically one month in arrears.
My IP also gave me 6 weeks for the first payment, which would have had the same effect. As this was the last thing I wanted I paid "early".
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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
[:)]i wqas told my first payment was due on 17th july and sent direct debit form back to GRANT THORNTON a month ago and they must be so snowed under cuz they still havent took my payment out and when i tried to ring them couldnt get through as usual so will wait for them to contact me .....bad customer service at the minute hope they get sorted out soon think they have too much going on [:)] but the money is waiting for them x
It is always difficult taking over a portfolio of someone else's cases. I have done this several times during my career and it has never been easy. Please bear with them - they really are a good firm and cannot be held to blame for mistakes of the past.
Do be careful Kyla - can you not do it by standing order instead?
The last thing you want now is for them to say you are in arrears.
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 sent me a form asked me to fill it in, all my bank details ,i did ask them if they wanted me to set standing order up at the time of acceptence but they said no its fine, i cannot get through on the phone so cant do anything else im sure they will be in touch soon especially if they want my money, i cant set up standing order as i cant get hold of anyone to sort it i will wait at the end of the day its their fault not mine and as i say the money is there waiting for them so im sure they will have to get in touch to tell me i have missed a payment so its not like its gonna fail straight away [:)]
Does make me wonder though - repayments of £210 a month on a £58k debt won't add up to much over 5 years (£12,600 or 22%). Meanwhile what about those people who enter into an IVA, pay a higher amount on a lower total debt, and then through no fault of their own are made redundant part-way through the process and thus their IVA fails ?. I'm exactly 2 years through my IVA on debts of £49k and have already made payment of just under £17k, i.e. over 33%. If I got made redundant tomorrow my IVA would fail and possibly I'd end up bankrupt through no fault of my own, even though I've paid off a considerable sum already.
I know the level of monthly payments is based upon personal financial circumstances etc, but at times it doesn't seem a level playing field to me.
I understand how you feel pavel and I would love to be able to work full time to pay more back as it means I would have my health back.
If you have more disposable income then to me it seems reasonable to pay it back. But even if you have been set a high dividend return, if you have a change in circumstances you can always go back to negotiate.
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