You don't need to attend the creditors meeting - the votes are sent in by phone/fax/email. You will just need to be at the end of a phone to hear that it has been accepted and see if there are any modifications.
If you want to make token payments then just contact them, tell them what you are doing and offer to make a payment. If you have a cheque book then send a cheque or you could do a postal order.
Personally, I wouldn't bother - use this money to build up a bit of a contingency fund and to make sure you have the money to make your first payment. Whether you pay or not will make no difference to acceptance at all and may not even stop the calls and 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 had debts with all yours apart from natwest with a return of 28p all said Yes. and not one phone me after letting them know I was going into a iva.
there is no more you can do now.
IVA now over with and it was worth it.
now starting my life again,
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by kallis3
You don't need to attend the creditors meeting - the votes are sent in by phone/fax/email. You will just need to be at the end of a phone to hear that it has been accepted and see if there are any modifications.
If you want to make token payments then just contact them, tell them what you are doing and offer to make a payment. If you have a cheque book then send a cheque or you could do a postal order.
Personally, I wouldn't bother - use this money to build up a bit of a contingency fund and to make sure you have the money to make your first payment. Whether you pay or not will make no difference to acceptance at all and may not even stop the calls and letters.
Are my creditors that sad that they will try to phone me at work? Do they try and find out your work number?
Would they try and contact me on an old number? I've changed every creditor to my new addres- I used to live with my parents and they don't know. Would they store my old numbers and call them?
I am going to take £60 and distribute that between them all
Hi sammy - not sure if they store old numbers or not. Someone else may have knowledge of this.
Yes they will be sad enough to call you at work if they have your number. The people that call will most likely have no knowledge of you applying for an IVA. To be honest with you I would expect they will call you if you do not make the minimum payments so even if you make a small payment you may get calls.
If your creditors have your works phone number then yes, they will try and contact you there. They are trying to get money out of you.
If you have managed to change your numbers then you should be ok.
It is up to you if make payments but they will still try and get more out of you.
As regards the creditor meeting - your IP will phone you as soon as they have a result and let you know. The creditors are then bound by the decision if you are accepted and should then not contact 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
Each IVA is different and you can't say what terms they will use.
I think Natwest are pretty amenable usually.
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
Hello
Try not to worry ok : ) Its the same for everybody at this point
If they dont accept then they lose out All they will do is give you some other options or work a way around If they want more than you can reasonably pay then they most likely will offer you an extra year of payments 6 instead of 5
Your IVA company has taken it on so they dont do that unless they are confident of getting a yes for you
Dont cross bridges until you come to them
Your Bank loan payment I would draw all your money out of the account and open a new account thats not connected to any of the banks you owe money too
You can pay them a token if you want I did and I wished now I hadnt as its pretty much pointless once they know you are getting into IVA territory they will try to get as much off you before you start
Tell them if and when they call to take your number off there records and to stop calling you or you will report them for abuse
They wont call you again
A month from now you will look back on this and be on your way
keep focussed and dont get down at the end of the day sam its only money paper and metal I was worrying like crazy when I started and look back at that time and think I neednt have bothered at all
Let the professionals deal with it now
Over to them
Chin up best foot forward
hi sammy, i had debts with the natwest in fact they were my biggest creditor.....1,500 o/draft 3 credit cards totaling 13,000 and a loan with a balance of 3,000 altogher my hubby and i had debts totaling 33,000 so if they had voted against the iva id have been in real trouble. luckily they didnt and i was accepted a dividend of 26p hope it all works out for you and the advice given on here by the other members is so helpful at the stage your at now. good luck and stay strong xxx
Noticed that Natwest have been put on my new account direct debit list when I switched. Quickly cancelled the direct debit before any payments at all have been taken. Can Natwest now re-instate the direct debit and if they did, could they take a higher ammount?
In the UK Direct Debits have to be authorised by the account holder if you cancel a direct debit with your bank then the bank have no right to reinstate it. You are covered by the direct debit guarantee.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Dave.sr
In the UK Direct Debits have to be authorised by the account holder if you cancel a direct debit with your bank then the bank have no right to reinstate it. You are covered by the direct debit guarantee.
I cancelled all of the Natwest loan payments as soon as I realised that they had been transferred to my co-operative account with the co-op. I have not told Natwest I have done it though and I am worried they may take the money from my co-op account [xx(]
I wasn't allowed to cancel it - I kept trying but couldn't.
Sammy - as long as you've cancelled it with the Co-op then they can't take it from there - they won't know the account number. They will keep taking it from your Natwest account though.
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
