www.iva.co.uk

hi there everyone just spoke to someone at kingsgate Insolvensy regarding progress on my iva they told me that they have already spoke to two of my creditors, is this normal practice to do this even though they havent spoke to me about my proposal or draft yet. I very confused again

They may have spoke to your creditors to gain current balances?

do you know what the purpose of the communication was?

They may be sounding out the likelyhood of an iva being accepted.

Hi,

Have you already given them some sort of signed permission to act on your behalf?

I can't honestly say if my IP contacted my lenders before the proposal was put forward. But I do doubt that it would of happend that way round. However that may of been because I could supply all the details directly to our IP and they may not of needed to speak to the creditors until after we agreed the proposal in details.

Cheers

Andy

they have all the information needed i have given them everything they need to start an iva. Going to ring them today to see whats going on . Thanks again

My IP spoke to my creditors prior to any formal proposal but did so anonymously and did not reveal who the client was but the circumstances and asked hypothetically whether the proposal in my (anonymous) circumstances would be likely to be accepted. I think this is a good tactic as it's a no lose situation and helps with the eventual (in my case positive) outcome.

It is not unusual to gauge creditors or their agents on a no name basis prior to sending out a proposal. This is not done on all cases but is generally good practice.

We do it very occasionally, usually where there is something that we are specifically concerned about, but most good IPs keep themselves fully aware of current creditor criteria so it is not usually necessary to liaise too much with creditors in advance of the proposals being issued.

Thanks i spoke to them on friday they said they now have all the information to pass it onto the drafting team does this seem right ?

Pretty much yes. How did you go about selecting them to represent you??

A friend is on a dmp with them and i was just at wits end knowing who to go with greading next couple of weeks know im going to start getting the calls !!!

Hi
The calls are allpart and parcel of going down the IVA or Debt Management Route and there is very little that you can do to stop these. Just inform any creditors that call that you are using Kingsgate to propose an IVA and to refer any calls to themselves.
Have Kingsgate advised you to make token payments or not ?
Regards

no they have just told me to advise creidtors that i am dealing with them and not to engage in conversation and to give them my ref number