www.iva.co.uk

Well tomorrow is the day I have been dreading since I decided to sort out my life. My credit cards and loan direct debits come out of my old bank tomorrow and luckily I have changed everything around into my new NO OVERDRAFT Halifax account so I actually have some money this month which is an amazing feeling. I know tomorrow the calls and letters start. I did pay each of them (4 in total) a token payment for the month, but obviously that is not what they want. Having read a few posts over the last couple of days they have been about DMP which is me!!! I really thought once I had paid over this money every month the companies would understand that they WILL get their money back just over a longer period - so why the calls and threat of collectors??? Once my companies start to try to collect there money tomorrow the bank will refuse the payment and I will be charged even more. Up until today I have been positive about all this and sorted all new direct debits out, now I feel blue Want to aviod all calls and shread all letters, but that won't make it go away.
Love to you all x

Hi Loubylou,

Have you cancelled all the direct debits at your old bank? If not, you need to do so.

Yes, you will start getting calls and letters, usually they start a few days after you have missed a payment.

A DMP is just an informal agreement, and although they will get their money back, they want it now, not in a few years time. Some of them will freeze interest and charges, but not all.

I was in a DMP for 18 months before my IVA, and once it was set up, I had few phone calls and was lucky that all of my creditors froze interest and charges. My situation was reviewed every six months.

You should send any letters you get to your DMP company and either don't answer your phone, or just tell them that you are arranging DMP and just put the phone down.

Hi Loubylou, afraid I don't know a thing about DMP or much else for that matter, but I hope you don't get too bombarded by the letters and calls and once everything is set up and sorted, hopefully they will be happy with your payments. Try not to worry, as you say, the problem won't go away until sorted properly. Try not to let the callers upset you (as they did me). Enjoy your new account and seeing a credit balance, it's a good feeling isn't it? Be positive, Kazzy x

Thanks guys, sending all paperwork off tomorrow. I didn't think to cancel all the direct debits, only the ones that I had moved over! Yes it was great to get up this morning and look at both our wages in the bank and no charges!!!!

Hopefully things will be ok (it's only until Jan when I will have more disposible income for my IVA) just scared of collectors!

Hopefully they won't call. We had so many letters threatening that they would call, that I could have papered the walls with them! We never had any call though, and I have only known of two people on here who have recently.

Just to post this site again so you can seewhat debt collectors can and can't do if they call:


http://www.direct.gov.uk/en/MoneyTaxAnd ... G_10034289

I hope things aren't too bad for you loubylou, I'm thinking of you. X

No going back now Loub and thats whats worrying coz you probably struggled along making minimum payments and then all of a sudden you stop and it feels very strange.

Good luck.

Hi Loublou,
Well done on your progress to date, it will get easier as time passes. There will be phone calls and some of them can be upsetting but stay strong, you are doing the right thing trying to get your debts sorted.
Thinking of you,
Hugs,
Chardonnay

hey loubylou.try to stay strong&positive.i am the biggest softy ever&was petrified of the thought of creditors ringing me&sending me letters,but it was nowhere near as bad as i imagined&this whole process has made me a stronger person as i have had to stand up for myself&after id dealt with the 1st few calls i felt so proud as i knew that i was actually sorting my debt problem,&was well on my way to getting my life back on track!enjoy having YOUR money in the bank it really is a great feeling.take care[:)]x