how long

[kev69]

Hi all, wonder if anyone can help, we have sent off paperwork to start an iva and sent off 1st payment, can anyone tell me how long it is likely to be before the phone calls stop from our creditors.thanks a lot Kev.

[kallis3]

Hi Kev,

Your creditor calls should stop as soon as your IVA is approved.

[plasticdaft]

Has you iva been approved? What company are you using?

[kev69]

Hi jan, thanks a lot for the quick reply,sorry but dont know a lot about this at the moment, so how long is it likely to be for iva to be approved? thanks Kev.

[kev69]

Hi plasticdaft, no IVA hasnt been approved yet, and the company we are using is v bond thanks for the quick reply Kev.

[plasticdaft]

Dont worry too much about creditors calling you,it does calm down but just inform them that you are in the process of having an IVA proposed and are therefore unable to make a payment as you are not allowed to show favour to one creditor over the rest.
Do you know if you get your money back from VB if your IVA fails to get approved??

[kallis3]

With VB you have to make two payments upfront, and I believe they keep these as fees if not approved, but not 100% about that.

Kev, on average it takes about 6-8 weeks.

[size5]

Andy Davie and Viki.W are both associated with VB. Perhaps one of them will see this and arrange to have you contacted directly by your case advisor to put your mind at rest as to the issues you have raised?

Good luck with everything and let us know how you get on.

Regards.

[Adam Davies]

Hi Kev
The IVA will take approx 8 to 12 weeks to set up.
Creditor calls will stop once the IVA is in place but should slow down as the weeks go on.
I will call you this evening to answer any questions/concerns that you have.
Regards