hi to my absolute amasement have just recieved two letters backdated stating i have a loan balance that is in arrears.out of curiosity i logged onto my account and behold there was my loan details balance,etc.just rang cahoot and was asked why i think my account should be closed.something to do with a completed a iva i replied.she advised me to inform my ip to forward a completion certificate.dear me i said how many do you require.equifax experian and call credit show my cahoot account as settled with current balance zero.any more notices of sums in arrears i said will be classed as harassment so make a note on your system please.if you get anymore letters just ignore them she said or ring us up.whats the point,could their incompetence result in bailiefs knocking on my door in the future i wonder.[:(!][:(!][:(!]
Last edited by MRBLUESKY on Thu Oct 29, 2009 5:03 pm, edited 1 time in total.
Looks like a sharp reminder Ronald that despite completing your IVA they will still keep pursuing you, and it is never really over for many of us is it?
Yes it is - they can do nothing to you and you should just ignore these letters.
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,m starting to think ,should i have gone bankrupt in my case it would have been the easier option,i,m starting to feel a fool thinking of my creditors to repay a maximum amount based on my disposable income.this is the thanks i get .notices of sums of arrears, after my completion of my iva several months later.and not getting so much as a post card during my iva,i,m so dissapointed after my hard work facing up to my debt and being assured by payplan .
Ronald.h1, it does make you wonder sometimes why you are trying to do the 'right' thing when you get harrassment like this and all around you there are people taking the easy option! I have just seen my first draft proposal for IVA and it illustrates the the difference in cost to me against BR. On IVA I will be paying (if creditors are kind enough to accept [:D]!)£1164 per month for 5 years and if I were to go BR (assuming I can?) £630 per month for 3 years. Bearing in mind I have no assets and a house with negative equity which is mortgaged on interest only mortgage, and a girlfriend that thinks I should go BR, it does make me stop and think when creditors are calling me at home on a Sunday morning at 9am, and every day on the mobile when they know I am applying for an IVA!
I have got to say 'Bankruptcy' is certainly not the easy way out - just ask Skippy and others they are testament to that.
It all depends upon your individual circumstances and I myself took the IVA route as I borrowed the money in the first place in good faith and to pay it back - unfortunately that did not happen due to my circumstances!! I could of gone Bankrupt, after all I have no assets at all but this was my choice and over 3 years down the line I am very happy that I have done this. Money is tight but the end is in sight.
Ray is right - BR is not the easy option but in some cases it's the only option and I wish people would think before they say that it is.
For many people it's the only option - a lot (like myself) have tried an IVA but found that it wasn't going to work for one reason or another and they have no other choice.
I don't understand why you feel a fool for paying back as much as you could Ronald - surely when you borrowed the money the intention was to pay it back in full?
This sounds like a classic case of not updating records centrally, to me. Just because one department receives the Certificate of Completion does not always mean all systems are updated, and as such letters like the one you received are sent.
Why this is the case I do not know, and it is most frustrating for us as IPs when our clients keep receiving correspondance, despite our notices going out.
Hopefully, it sounds like you have got it sorted, but rest assured, they cannot take any action against you now the IVA is complete (of course assuming this is a pre-IVA debt!)
With regard to completing your IVA, that is to be very much commended. Bankruptcy is fast becoming "the easy way out" for most people, the majority of which do not realise just how hard it can be.
Onwards and upwards from here, I say!
Kind regards,
RJC Financial Management
Accountants and Insolvency Practitioners with over 18 years experience.
Fortunately, the majority of people on here don't think it is the easy way out, and if they do we would soon tell them!
If an IVA is the right thing for you, you can have the satisfaction of knowing that you have paid back as much as you can.
For some people this is not an option or, having started an IVA, you can't manage the payments, so have to go BR.
Just because I had a letter from a company which was included in my IVA, I would not be thinking that I should have gone BR.
It's just a letter, they can't do anything so nothing to worry about.
Ronald - it's nothing to do with Payplan. I can't see why you are so bothered about it.
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,m trying to move on with a debt free life,having faced up to my debt problems and paid off an agreed amount to my creditors.completing a iva with all the unforseen obsticles is very challenging,just like bankruptcy.i,m aware there is nothing easy about bankruptcy but if i had gone down that route and i was advised to by national debtline it would have been financialy viable in my case to do that.as a iva is a legal binding agreement with the work from all parties that goes into it hence the cost of ip fees.recieving debt letters with outstanding balances in arrears with warnings of not ignoring,and being able to access old accounts that have not been closed like i was promised would be when i agreed the iva,several months after completion is intolerable.and is easier said than done to ignore,when they drop on your doormat.the debt was included in the iva and the person i spoke too could,nt guarantee i would,nt recieve any more in the future.the conversion made me feel i was going through all the emotions of trying to deal with my debt again.
Despite going BR I still get the odd letter from Egg and I can still access my accounts online. I don't let it worry me as there's nothing they can do, and it's their own paper and postage they're wasting.
I've got more important things to worry about than a few letters.
I really would not let it bother me. They can't do anything. You have paid back what you can.
I don't know why you are letting it get to you.
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
You deserve a bit of sympathy here Ronald as your case is in no way isolated judging by the messages appearing on this forum for as long as I have been reading them anyway! How can you be expected to ignore these letters for an indeterminable amount of time when you have held up your end of the agreement when it is clearly the job of your IP to get these vultures off your back!
i,m not worried i,m just annoyed,had a bit of a rollercoaster week regarding a few ill relatives.but things are picking up now so i,m more relaxed,but thanks for your replies.
