As long as you are proactive in sending the information they need it should only take 2-3 weeks to put a proposal together and they have to give at least 2 weeks notice so still time to sort just before Christmas...
I'm ringing all my debtors tomorrow to make them aware of it as the holds on my accounts are going to end soon, what do I say then do I offer them money? I just don't know how to go about saying it!!
I would not offer them any money at all. Just tell them you are applying for an IVA and do not have any cash to pay them anything. Save that money for a contingency fund.
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 wouldn't ring them -- wait for them to cotton on and ring you (if they do). Then simply tell them you are entering an IVA and they should speak to your IP. Do not discuss the situation with them --- the chances are it will be a third party call centre and it is none of their business !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I'm worried about doing that just because in my IVA paperwork it's says I MUST offer them something! Plus I have already been having calls regarding the hold ending on the accounts and they haven't even ended yet!
I can't see how they can insist on that - and you will get phone calls, there's no getting round it. You can always offer them a token £1, that way you will have fulfilled what it says and if they don't accept it then not your fault. Personally speaking I would stick to my guns, ignore phone calls and let your IP company get on with 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
You have to remember that Stepchange is funded by the creditors and, so, will be trying to get them as much return as possible. This might be behind their reasoning. Of course, if they pulled their finger out it wouldn't become an issue.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
We didn't make any nominal payments and although our IVA took about 4 months from first call to acceptance we had no real bother from creditors once we advised them of pending IVA. In fact we paid nothing for 6 months.
On the point about being funded by creditors isn't that just the DMP side as I wouldn't have known the IVA side was as they charge fees etc the same as everyone else.
IVA completed with StepChange.
Last payment Sept 2016 CC Oct 2016
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by luna
Hi
We didn't make any nominal payments and although our IVA took about 4 months from first call to acceptance we had no real bother from creditors once we advised them of pending IVA. In fact we paid nothing for 6 months.
On the point about being funded by creditors isn't that just the DMP side as I wouldn't have known the IVA side was as they charge fees etc the same as everyone else.
Yes the lenders fund the DMP arrangements, but this, of course, goes into the same coffers and funds the company as a whole and must affect their ethos.
There is also a strong possibility that they will farm the IVA out in any case.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
