www.iva.co.uk

I have received a Default Notice under s87(1) CCA 1974 in the post today from one of my creditors which states that if I do not pay X amount by 28th April they intend to require immediate payment of the balance if necessary by court action.

I'm in the initial stages of my IVA application having just returned all of the necessary paperwork to my debt consultant. I expect it to be sent to an IP in the very near future.

How quickly after 28th April is it likely that the creditor in question will issue court proceedings? I'm hoping my IP will be instructed by then to prevent this from happening.

Also, how long after an IP is instructed does it take to make a proposal to my creditors?

Thanks

Hi
A default notice is part of the process that many creditors will go through.Nothing to worry about if you have started the IVA route. Court proceedings can commence after the 28th but is unlikely, your IVA should be in place shortly after this date and will stop/overide any action
Regards

i got one of those for a large amount only 2 weeks into the iva process, i didnt here another thing until after the iva was complete so i wouldnt worry to much

Hi, I would send the letter to your IP too and voice your concerns as they will give you reassurance I'm sure.

Thanks everyone!

I am four months into my IVA and this morning I got my first Standard Default Notice threatening all sorts if I didn't pay x amount. However at the top a fresh paragraph had been inserted saying they were obliged to send the notice but to, basically, ignore it and not pay any monies because the debt was part of the arrangment.

So I have taken their advice and ignored it :0)