I am about to go in to iva but i could not afford minimum payment for some of the account so i have been defaulted and asked to pay the arrears within 7 days my IP will contact my creditors next week will this affect me is advisable to pay the arrears off.
Hi Vidal and welcome to the Forum.
There is no point in paying the arrears as this would only sort out one creditor. You must treat all creditors the same and regardless since your IVA meeting is imminent keep the money to make your first payment or have a small contingency.
Either pay all your creditors a token payment pro rata, or don't pay them at all. It makes no difference to the outcome and you need to save money for your first payment and to possibly build up a little contingency.
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
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 don't care Helen - I am just looking forward to reading that you have finished. I will be so pleased for you and then we must sort out a weekend to meet 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
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
