www.iva.co.uk

Hi forum, am getting anxious now. Currently on a DMP accepted by all creditors except HSBC. Have began the IVA process back in Jan/Fb but going really slow. No date for a creditors meeting yet. The IVA company have had details from the DMP company(they are linked in some way) but IVA company have not contacted me with any further details regarding IVA proposal as details slightly different compared to when I sterted the DMP.

HSBC now threatening doorstep collectors etc and further legal action. Have been paying HSBC reduced amounts anyway through the DMP.

What is a reasonable time to wait for things to get moving. I am using Tenon Debt Solutions and so far have always been contactable etc, just seems a slow interminable process, stress and dpression levels high today!!

Hi Julian

Have you had a proposal for approval yet?

Ian

Have you sent back all the information requested by the IVA provider? Although they may be linked in some way, the info that has been used to set up and run your DMP will not be nearly enough to propose an IVA with, nor will the authority cover it either.

Hi, thanks for replying. Have sent all my documents, proof of address, ID Car log books wage slips, bank statements etc in late Jan/early Feb.

My I&E has changed slightly, bit have not yet discussed this with anyone from Tenon. They have stated that they have written to creditors. No, Ian, have not had a proposal to approve yet. We did sign an authority to act back in Jan/Feb.

They have not asked for any up front fees either.
I am sure they are acting in my best interests but it does seem so slow. As discussed elsewhere i think my dividend to creditors will be around 50p plus in the £ after fees so I am keen to press on and start the ball rolling (if accepted!)

If not the proposal I think you ought to be seeing some signs of progress at this stage.

They say they have written to creditors, presumably to get up to date balances? Are you able to short-circuit this by getting these yourself from the creditors as some of them do tend to think the Data Protection Act justifies not responding?

Other than that I can only suggest you advise them of the latest changes to your I&E (as failure to do so now will only cause a further delay later on) and ask them for up to date info on where they are up to.

HTH


Ian