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Hi all, I am now waiting to hear the date of my creditors meeting, but now I have a default notice and dont know what to do, any advice

ANDY

Hello Andy,


Default notice is a letter a lender may send to a customer if they are in arrears with their account.

The notice informs the borrower that the lender is intending to terminate the credit agreement as they have failed to keep up payments. The notice will also allow the lender to take steps to recover monies owed to them.

Default notices are registered with credit reference agencies and remain on an individual's file for six years. Anyone who receives a default notice in the process of an IVA, should contact and inform their IP as soon as possible.

Kind regards,


Julia


For more information about IVAs, please visit my website:
www.supersonicsquirrel.net

Hi

Most people waiting recieve these, I have, but its nothing to worry about, send them to your IP. Your proposed IVA will protect you, legally. They freak you out when you recieve them, well they did me. These notices are just company proceedure and a legal requirement by them before any other action can be taken.

good luck

LILY

Hi AndyD,

I agree with the above comments and would advise that you contact your I.P, remember that your I.P is the one who knows your IVA case so if you have any further concerns or queries they are the best people to speak to.

If your IVA is accepted this will then over-ride any default notices that you have received in the process of getting your IVA.

Hope you hear of a date for your creditors meeting soon.

Hope this information is of use

Regards. IVA Experts

Hi AndyD

Default notices really have no bearing in the great big scheme of things, but keep your IP informed as he/she will need to use most up to date balances when they are preparing your proposal.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk