Default Notice

[baz36]

Hi all,

Got creditors meeting 7th march. Had letter from capital one today (owe £6000) saying that they have had my proposal for IVA and they are enclosing a default notice (which they have) it looks really scary. and it says action will be taken after 1st march (today).Rang IP and they said they are just trying to scare me. Well its worked, what does this mean? meeting isnt until 7th, what happens now?

Thanks

Also had Morgan & stanley on for about 20th time,phoning at work when id asked them not to) asking me all sorts of questions, said they had proposal, asking me how many creditors i had( i said i wasnt obliged to answer) they said i must answer? then they asked how long i have been having problems and why i had spent £1900 on their card since dec) i again said i wasnt obliged to answer and they said they wasnt obliged to accept my proposal so i said 'fine' and hung up.I also said it was harrassment.then they had the cheek to ring me again at 8.45pm!!!

just mainly worried about this default notice though.

[MelanieGiles]

Hu baz

A default notice really doesn't mean anything, so you can safely ignore it - especially as they already have details of your proposals.

Morgan Stanley are irritating, but do try and be polite as you don't want them rejecting your proposal just because you upset them! I doubt that this will happen, but just in case!

Good luch for 7th!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[freelili]

Is this true, that the people you speak to on the phone are the same as that vote at the creditors meeting then? How does this work and what if they are rude before you have a chance to speak, which they often are?


LILY

[MelanieGiles]

Lily

No it is not usually the same people voting - but the do often share the information with their colleagues.

A lot of creditors are now rejecting IVA proposals on the basis that their customers have never told them they have problems. So my advice to all out there thinking of doing IVAs is give your creditors as much information as you can before the IVA proposals hit their desks, and document who you spoke to and when. This will give your IP a fighting chance at the creditors meeting if they do get rejecting votes.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[kezza]

Hi Baz

I have had one of those and I'm still waiting for my creditors meeting date as I am still waiting for my rectified draft proposal [:(]

I hope I won't have to wait to much longer, but also realise they have to be right to avoid unnecessary hassle down the line [:)]

[freelili]

Melanie

Oh thats quite shocking, considering how many times these people phone, that they are often rude and communication is far from their strong point. I thought these decisions were based on financial reclaim compared to banktuptcy. The odds are stacked against joe bloggs, not knowing about IVA's starting to miss payments, not to mention the likes of synergi and spectrum. Its no wonder there are so many desperate people really is it?

LILY

[scaredkez]

i also often found that when i had spoken to the creditors on the phone half of the time they hadn't bothered writing on their computer that they had spoke to me, and continued with the barrage of calls, and i kept repeating the same information over and over again, very politely, until i had a very rude and i mean very rude woman from morgan stanley wanting the ins and outs of what i had spent money on why had i got into this situation, wasn't it all my own fault and so on and so on, they didn't ask that by the way when i was spending and paying off the bills, my point i am trying to make is they don't seem to communicate from one department from another anyway so wouldn't really think if you had been polite on the phone to them or not would give any weight to whether or not they voted to the iva.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[baz36]

thanks everyone. ive stopped answering now, dont know what else they want me to say, ive told them everything. so why do they keep ringing? am i obliged to tell them how many creditors i have and why i have run up credit? they said they have my proposal so why dont they read it....cant take much more of it.

[DebtDummy]

No you are NOT obliged to tell them how many creditors you have. Next time a creditor rings be ready. Leave a note near the telephone with your IPs name, address and telephone number and give that information to them then disconnect. There you have done your bit.

You will get through this baz36. Take care my sister in debt.

All I have left is my humour.

[ivamole]

The number (and names) of your creditors should have been listed in the proposal document for your IVA under the list of your liabilities.

Tell your creditors to read the Proposal.

[kris]

hi all, just don't get that, is it a good idea to tell all your creditors about each other and how much you owe each of them while making a lump sum pro rata offer to each and eveyone of them or is it best just to make them their offer?

[MelanieGiles]

Kris

As you are making your offer via an IVA, all of your creditors already know about each other because they are all listed in your proposal. There is no way round this - the IVA proposal must include a detailed statement of affairs listing all creditors individually.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk