If that is what you pay for child minding then you need to declare that amount Gemma as you don't want to leave yourself short in any area of expenditure. I know the wait is a scary time and I do remember it well but once accepted the relief outweighs the stress in the run up and it won't be long before you'll be on the road to debt freedom. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
The forum is here as well for any advice and support you may need.
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
Thanks for all of your help really appreciate this. Still a little unsure as to wetaher to stop paying all of the creditors, a few of you earlier mentioned paying a token gift, how exactly do you set this up?
I think it's a pro-rata payment to your creditors Gemma and that way it keeps it fair to each one. You can contact your creditors yourself and say this is what you're going to be getting etc.,
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Take your disposable income and work out what percentage based on the level of creditors you have each one should be receiving on an ongoing basis, and then make payments at that rate to them directly. the IP you have chosen to represent you ought to be able to help you work out this figure if you struggle with the numbers.
What is a ip? I made my initial enquiry last week to a company called gregory pennington, the gentleman has sent out paperwork (which we have not yet returned as getting wage slips, bank statements together etc)Then he told me he will send the details onto someone at freeman jones, who will be my IP, the guy who has sent out my paperwork or the next person I deal with and when will it be documented that we took the first step to an IVA?
IP stands for Insolvency Practitioner - the person who will represent you personally in this matter. You may never get to speak to your IP at that company - and assume that they will be forwarding your details to Freeman Jones who are their formal insolvency arm.
Are you going to have to make any upfront payments to Gregory Pennington? If so then you may find that you have to stop paying your creditors in order to afford this.
You can of course use a different firm - there are several who don't make any charges at all prior to the IVA being accepted.
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
Their are a few companys that use this site and it may be helpful to use one of those. We used DFD, no problems from our perspective, don't think you get to speak to IP though, having said that we have never tried. Melanie who posts on this forum has an excellent reputation on here, as have Vincent Bond and Payplan. Why not give one of these a go.
we paid token payments to all off our creditors at £5 a month each. In the end we stopped because it makes no difference in the end, they still keep calling you and sending you default letters. You should just tell your creditors that you are going through an IVA process and give them your IP details. We were paying £450 a month child-care and this was accepted in our proposal.
F&F accepted 12/8/13 - Awaiting Completion Certificate
Thanks to everyone for your support. Could'nt have done it without you.
