www.iva.co.uk

Hello everyone.., an update my İva journey.. i have just heard from Stepchange that my creditors meeting set for 3rd of April. I read some comment about Stepchange taking long time setting up an İva and i was very worried that it was going to happen to me but luckly everything moving quite smooth and i have only 3 weeks before i know which path would be written for my financial destiniy .., i am trying to think this is a sign that it will be accepted and finally after so many years i will have a long nice night sleep.
Stepchange is so far looking after me very well I hope there is a light at the end of the tunnel.
I wish you all a very happy Easter and hope to give you my goods news just after .. please save some of your prayers for me..

Very best of luck from me. If Stepchange have proposed the IVA they must feel it is suitable so I am sure you will be okay.

Michael Peoples wrote:

Very best of luck from me. If Stepchange have proposed the IVA they must feel it is suitable so I am sure you will be okay.

Thank you very much Michael

You will know before Easter as it is late this year - look forward to a positive post.

Best of luck, Oya. I shall be looking for the good news in three weeks

kallis3 wrote:

You will know before Easter as it is late this year - look forward to a positive post.

It will be Christmas all over again for me if its accepted. Thank you

Foggy wrote:

Best of luck, Oya. I shall be looking for the good news in three weeks

Thank you very much Foggy.. i will let you know as soon as i know

I sent my proposal last week, they received on Monday. How long was it after they received your proposal that they let you know date of creditors meeting? Every day feels like a week right now! Fingers crossed for you! I too am with step change

moira717 wrote:

I sent my proposal last week, they received on Monday. How long was it after they received your proposal that they let you know date of creditors meeting? Every day feels like a week right now! Fingers crossed for you! I too am with step change

I send it on Thursday last week next day delivery. I have got the meeting day today. So its a week. I think 28 days starts the day we sign the proposal because i signed on the 6th and my meeting is on the 3rd of April. Good luck with yours i hope you hear soon.. i know how hard waiting.

Thank you. I sent mine last Fri (day after yours) so hopefully I may hear something Monday!

They usually manage to give notice to the creditors the same day they get the signed proposal back from you ---- however, the devil is in how long they take to think to actually inform you ! Some firms are better than others ! Fingers crossed you hear soon, Moira.

moira717 wrote:

Thank you. I sent mine last Fri (day after yours) so hopefully I may hear something Monday!

I hope you will Moira. If not give them a call. I am sure they will tell you if its set. Good luck.

Thank you for that information foggy, I thought they wouldn't contact the creditors until after they had contacted me so worried that would be another week. Last 4 weeks seem like 4 yrs! Also I wondered if accepted they said first payment would be made 2 months after decision. Am I right in thinking I carry on making my reduced payments to creditors during these 2 months? Thank you also oya looks like we at same stage, lets hope we both get a positive outcome. Been a Rollercoaster, although have to say cutting up my credit cards was an empowering moment, just a shame I hadn't cut them up years ago. Know whatever happens this is going to be a new start from me. Last 2 months have stuck to tight budget and am taking note of every penny I spend, looking at ways to save money. My debts have been more out of necessity than anything, my first husband passed away leaving me with 4 young children (who do not come cheaply). Telling my now husband about this has lifted a weight from me, although he knew my first husband had left me in debt, I never told him how much. Recent life events i.e. looking after sick parents led to reduced salary and spiralling debts which I didn't want to worry him with. However hard it is my advice is to tell people, have told my older son's as they won't be getting much financial help from me for a long time! Couldn't see a possible iva succeeding without being honest with people.

Always good to get the support of loved ones -- hiding an IVA for 5 years is quite a strain !

Normally the first payment should be made withing one month of the creditors meeting -- but your firm might have their own ideas ( the sooner you start the sooner you finish). You need not make any reduced payments to creditors once the IVA has been accepted. Again your firm is unusual in advising making reduced payments at all -- the majority of us made no payments at all once we had decided on an IVA -- which gave us a slush fund of a few hundred pounds for emergencies.

I personally would not pay anything and build up a contingency fund.