Hi guys and girls I've posted on here before about my IVA which the meeting is next Wednesday I was told too make a new account which i did but like a idiot ive set the direct debits up with my new account I've been told too cancel them all .
Which is Hitachi which is due Tomorow and my credit with Lioyds tomorrow I've been told not too pay it has credit fix don't see it has Beeing beneficial and they just keep simply saying ill just be out of picky with no meaning too has my IVA meeting his next Wednesday does this make sense too anyone and does it sound like the best option too not pay Lioyds tomorrow ?
I stopped paying all of my creditors and cancelled all my DD's as soon as I contacted my IVA company and started the process, I called all of my creditors and told them I was going to be entering into an IVA and most of the calls from them stopped. Not sure if you are to late to cancel a payment due tomorrow though.
Inter-locking IVA approved 25th Feb 2013 - F&F offer Accepted 06th July 2017 - Completion Certificate received 20th July 2017
The point is, you are insolvent --i.e you cannot pay the debt. So ...on one hand you are asking the creditors to help by agreeing to an arrangement because you are unable to pay --- on the other hand, you ARE paying !
In the long run these debts are going into default .... any payment you make now will not change that, nor will it reduce any payments you will be required to make to the IVA .. so, basically, it is money down the drain. Most of us (myself included) stopped paying all unsecured creditors once we had started the IVA process. This allowed us to build up a modest emergency fund going into the IVA. Some paid token payments, which, again, is money down the drain.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
No - most of us stopped paying - gives you a chance to build a small emergency fund up.
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
No it doesn't it will make no difference to how they vote.
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
Your meeting is less than a week away -- I stopped paying two months before my meeting -- they won't have even noticed by the time the meeting takes place and some may have already voted.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I am assuming they just suggested a new bank account for your own personal day to day banking.
Don't change over any of your creditor details across to a new account.
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
