Payday Loans/IVA

[terry d]

just a question here,if you had say 6 creditors who were all payday loan companys and they all voted no to the iva would you have to go bankrupt ?

[Niobe]

No you wouldn't - you could try and do a DMP.

[sjbyron]

Harpic I dont think you are being fair about call centre staff, yes some of them work from a script and try there best to threaten you with anything and yes some of them dont have much knowledge of debt solutions. However that is not all of them, some of them have sound knowledge and are sympathetic I have found, for example SRJ Collections and Robinson way collections to be very fair and compassionate.

I also think it is very rude of you to just say "they are just minimum wage staff there for the comission" when again some people arent there just for the job.
The success to debt management is working together, and the attitude you are portraying is a them and us mentality and its not always like this and infact this can make debt management alot harder.

Thanks

[sjbyron]

And terry d, if the IVA failed at voting due to all or the majority of the creditors wanting all the monies back with no room for negotiation, then a DMP would be difficult as the term is extended and therefore they may not like this, so bankruptcy or a DRO may be the only sensible idea

[Niobe]

A DMP in the interim is always an option.

A DRO is only ok if you have less than £15k owing to creditors, DI is less than £50 per month and no assets over £300.

[Neil69]

I have received by email a default notice by Wonga and Quick Quid, Do I need to act on these or should I wait until my IVA meeting next Wednesday 27th June???

[Michael Peoples]

Just forward them to your IP. Nothing to be concerned about as everything stays on your credit file for 6 years.