www.iva.co.uk

Hi Everyone,

I am in the process of setting up an IVA, I am completed at an administration level and my case has been passed to someone who will be writing the proposal. They are calling me tomorrow to arrange a telephone meeting, can anyone advise what they will ask me?
I am now getting threatening letters from creditors advising I must make payment by 22nd oct, my IVA won't be in place that fast, thats even if it is accepted, what should I do? I have written to the crediors as have my IVA company so the creditors are more than aware of what is happening.

I feel so stressed about it.

Any advise or words of wisdom would be gratefully appreciated.

Ruth

Hi Ruth - I imagine they will talk you through the next steps and make sure your I&E is set properly (so have your figures to hand) You will also have the chance to ask any questions. It's nothing to worry about - I know that won't stop you worrying though. Just remember they want to help you!!! x

Hi Ruth,

As regards the creditor phone calls, you can either ignore them, refuse to answer the security questions or tell them what you are proposing to do. Don't worry about their threats, that's all they are and the call centres (who are mostly involved in this) have no sway over your meeting.

Just go over everything with your IP and don't leave anything out. I am sure your proposal will be with you soon.

Thank you, I have been completely honest about my I&E and will feel so much better when I know the ball is really rolling. The creditors threatening legal action is scary and the letter and phonecalls stressful when you have already explained the situation over and over, but guess its just part of the journey to IVA.

Don't worry about the threats - they are all quick enough to do that but it doesn't mean anything once the ball is rolling. The phone calls are stressful.

You can refuse to answer security questions, tell them what is happening and then hang up or do what some people do and say that you'll get back to them in a minute and just leave the phone off the hook for a while. I guarantee they will have gone by the time you get back.

You can, if you want, change your phone number.

The phone calls from creditors are probably the worst part of setting up an iva for most people. Their threats are empty and you are protected now by the iva process - I'm not sure they can take legal sanctions now. They'll say anything tho! x

Thank you for reassuring me, I feel abit better already x

ignore the calls Ruth they are harassing you to scare you off the IVA

Ignore the call centre bullies, they are just trying to get you to pay money to pay their commission.

They may try to tell you that you won't be able to get an IVA but they have no influence.

Hi Ruth, I am just slightly ahead of you in that I have returned my signed proposal earlier this week and just waiting now for a creditors meeting date. The calls are getting to me too, also had two letters this week from lloyds and halifax saying they are sending a representative around to my address tomorrow. You are almost there so just grit your teeth and take heart from all the reassurance people on here can give you - after all they have all been there and got through it.
Good Luck!

Your date should be with you very soon Louise.

Ignore the letters as well - they are sometimes worded so that you think they are sending someone round when they actually mean that they are going to phone you.

It is highly unlikely that anyone will call in person and if they do, you can ignore them as they have no powers at all.

I couldn't have anyone turn up on my doorstep no one knows my situation in my family. What was the person from lloyds tsb going to do??

It is highly unlikely that anyone will turn up. The letters are usually very misleading - they say someone will contact but we had those and nobody ever turned up.

Don't worry Ruth. Even if anyone turns up they cannot do anything.

By visiting your home they are trying to get in contact with you as they may have failed over the telephone. They have a right to do this & it is not to be confused with bailiffs!! Halifax normally wait until you are 5 months behind then issue with a default notice. They legally have to serve this before they can take further action such as CCJ or charging order or the nice bailiffs.
I found Halifax to be most helpful when I was setting up my IVA. I rang them told them which company I was in discussion with & my case reference number & had no calls or further action for 30 days. This helped no end!!!

It is unlikely that anyone will turn up - I have read of very few over the years. Halifax never came round, even though they threatened to.