Steps Before Entering An IVA

[Homer2418]

Having looked at these posts recently, I have come to the conclusion that there are a few steps should help before getting an IVA.
1- Setup a Bank account - No overdraft with alittle money in
2 - Change home and mobile numbers, after all you would have given these out when taking out credit. This means that creditors cant phone you and harrassing,hassling you with scare tactics, thus meaning there going to have to write to you.
Any harassing or blackmail letters could be used against a creditor and then you can write back and everything is a logged record
Be careful of who you give the numbers out to.. and if they do track you down through work,then get someone else to say that your out at the moment and wont be back it later,
You work mates shouldnt give out your number and the creditors would discuss you business with every tom dick and harry.
If you pickup the phone and identify who you are, then there on to you, just simply ask them to put what thet want you for in writing as you are at work at the moment and end the call, DONT BE DRAWN INTO ANY CONVERSATIONS.

Then go for the IVA, something else I would say, check your employment contracts to see if any clauses about IVA's or BR.

Its not rocket science, but these steps can help I believe

[Viki.W]

Not sure about the using your credit card one more time bit though as it won't look good, you have to supply statements to your IP and if you know that you are going for an IVA, you should stop using credit straight away as you know that you won't be able to pay it back. Viki X

[size5]

Hmmmmmmm

Personally, whilst agreeing in principle with a lot of the points made, I cannot condone the one sidedness of the original poster. If you take credit facilities and give your numbers willingly, then you should be prepared to face the consequences when it goes wrong. Your IP will help you, of course, but to have what looks like a pre-ordained plan just looks plain wrong to me.

Don't forget that an IVA proposal depends on the creditors vote, and the plan set out above looks very cynical in my eyes.

If I have this wrong then please forgive me, but the poster seems to assume that he is negotiating from a position of strength, when in reality that is not the case.

Regards.

[Viki.W]

I agree with you size5. I would do anything at the moment for my creditors. I now answer every call and explain the situation, I am always polite and I really hope for the best. I certainly didn't have any sort of "plan". Viki X

[Viki.W]

I'm glad you edited that bit out, Homer, don't want to give everyone the wrong idea.

[Viki.W]

Of course....My first post doesn't make any sense now!

[Homer2418]

Size5 Quote "the poster seems to assume that he is negotiating from a position of strength, when in reality that is not the case"

This is nothing to do with position of strength.
if an IVA is successful, then great, If it fails then there is only one option left to someone in debt.

I am just stating, that having a plan before entering an IVA will relieve some of the worry and stress that accours during this process in my opinion.
To have a bank account already set to one side may help any IP and speed a process up.
Maybe you should look at some of the other posts, about phone calls and scare tactics from creditors.
I think that its best to have everything in writing, after all the creditor maybe recording the telephone call and be putting pressure on the person to agree to something.

[Viki.W]

Hey Homer, when you instruct an IP, they send you a step by step guide. It lists everything, also how to deal with phone calls etc. Viki X

[size5]

I am loathe to argue this point but "If it fails then there is only one option left to someone in debt" isn't correct, each case must be treated on its own merits. The post seems to assume bankruptcy as the alternative, and if bankruptcy is the right option then you shouldn't be looking at IVA anyway.

As for creditor tactics re calls, letters etc it is safe to assume that I have seen 10's of thousands of these letters and have dealt with many thousands of creditor calls on behalf of my clients and whilst I appreciate that they are not pleasant, the point that I feel gets lost here sometimes is that, wearing my creditors hat, there is very little blame attached to the individual, it is mainly the fault of the creditors.

Patently wrong in my view.