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Posted: Tue Jan 22, 2008 10:43 pm
by em_
started to look into iva's, is it normal to pay 2 mths straight away and i have been advised to cancel all direct debit payments , as if we still pay min amount or something of balance this will effect us getting an iva
Posted: Tue Jan 22, 2008 10:56 pm
by stoney
Hi em and welcome to the forum. Just wanted to say that you have come to the right place for help and advice. I am sure that one of the experts will be along to advise you shortly.
I have found this site invaluable in providing a fountain of knowledge and it is nice to know that you are now the only person out there with problems. Good luck. x
Posted: Tue Jan 22, 2008 10:58 pm
by stoney
Sorry post meant to read "not the only ..." not now. Ooops spelling not up to scratch there.
Posted: Wed Jan 23, 2008 12:13 am
by kitkat44444
Totally agree James, my washing machine went up the spout before Christmas and couldn't afford even the cheapest replacement 'cos the little contingency I had put aside had been swallowed by rising costs in mortgage interest and petrol costs! I was lucky enough to have a mum who offered to buy it for me as a birthday/Christmas present but what about those who don't have that option?!
Kitkat44444
Posted: Wed Jan 23, 2008 12:16 am
by kitkat44444
Sorry - replied to wrong posting!! just in case you think I am going mad! Anyway, welcome to the forum Em! This forum has been my godsend as none of my friends or family know I am in IVA so its the only place I can turn to for advice or general chat. Best of luck.
Kitkat44444
Posted: Thu Jan 24, 2008 1:36 am
by Adam Davies
Hi
Some companies ask you to pay upfront,the important thing is to find out,in writing,what happens to that money if the IVA is rejected.
It is normal practice to stop all payments to unsecured creditors once you have decided on and instructed an IVA provider
Regards
Andy Davie
IVA.co.uk Spokesperson and Website Manager
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Posted: Thu Jan 24, 2008 6:44 am
by Beechy
Hi em
Sounds to me as though you are dealing with a broker and not direct with an Insolvency Practitioner.
It is normal practice to stop making payments to creditors while the IVA is sorted out, as long as the company you are using set things up ASAP. It normally takes 6-8 weeks from start to creditors meeting, a large part of this time is statuary notification periods to creditors.
I you want any further advice, post the questions here and I am sure you will get the answwers you require
Dave Beech
http://www.adcrofthilton.co.uk