www.iva.co.uk

For various reasons our IVA is taking a while from when we first stopped making payments and making that first call to Melanies team. I should add that none of this is Melanies doing, it is due to issues surrounding my job so we made a joint decision to move things slowly and look to make a proposal in March.

I am just concerned how long the creditors will put up with no payments from us? it's all gone very quiet as in we're not receiving any phonecalls now (although I know they are calling Mel's team) but as we are at the stage where we started missing payments mid December (so currently we have missed either one or two payments now to our creditors) and this potentially could go on another couple of months before our creditors meeting, will they wait that long?

Hi Lem,

The average time is usually 6 - 8 weeks but they can take longer. Your creditors will be fine. We didn't pay anything for two months and although we had the calls there were no other problems.

In actual fact, Barclaycard and another of my credit cards weren't paid for four months.

That makes me feel a little better Jan, I'm just starting to get a little twitchy as uni are taking so long to ratify my results and it looks like at least another 4-5 weeks before I will get my registration (when I was expecting it in the next couple of weeks) now and I'm tearing my hair out, I just want this IVA done and dusted now as I am stressed out with it and work, new job etc, I just want to start getting on with my life

It's bad of Uni to keep you hanging on like this. Hope they get you sorted soon.

hi lem my iva took over 2 months from contacting creditors,try not to worry your in very good hands,the fact that creditors are not contacting you shows what a good job mels team is doing,if you get contacted in the future just tell them that your going through the iva process and pass any letters on to mels office that you are dealing with.i,m sure you will be fine ,again you have made a very wise choice in IP. x

Hi Lem

I'm with Mel’s team and My IVA took just over 3 months to go through due my company accounts being finalised. I got one or two calls from creditors Barclaycard / Mercers and Halifax - I just explained the position and they were happy to hold calls for a couple of weeks at a time.

You've got nothing to worry about Lem.

thank you guys, I guess I just need that reassurance every now and again, just everything feels never ending at the moment x

You want a rant or some support lem, you know where I am!

Hi lem! glad you posted,i've been wondering how you were! we set off at the same time,do you remember? our's isn't quite ready yet,almost there.
i think the 6-8 wk is a guide,we had Christmas in there and all that snow slowed us down a bit. if you've decided to go a little slower yourself then use the time wisely- save what you can to give yourself a cushion for when the IVA'S up & running. Melanie may advise making small token payments- have you asked her about it? we aren't making any. interest is being added on which makes our totals go up a bit more.
i'm just trying to hang on while we get things sorted. it's been very hard. you're not alone,big hug x

I don't think Mel does advise making token payments, she prefers you to save the money up as contingency. However, it is up to you whether you do that or not.

Don't worry about the interest - it is all factored in.

Hi Kall, yes we're trying to save a emergency fund. i have seen some people post that they make token payments,best to ask advise i think.
it does seem bad the totals grow while this is getting sorted but we can't do anything about it!

I never paid anything at all. It makes no difference to the votes whether you make token payments or not.

hi lem and rosepetal
i think i made that first call to tina about the same time as you both.had all the phone calls etc but they also seem to have stopped (bet i get one tonight) just told them i was not going to pay anything not even token payments.as i was getting a iva drafted
i have my paperwork to look at and sign next week so with christmas and the snow hats off to mel and her team.
lets all look foward to the creditors meeting keeping all things crossed

IVAs with my firm should take no longer than three weeks from a complete file being received to the calling of a creditors meeting. If they are taking any longer it is either because we are waiting for information from our clients or that documentation is outstanding.