www.iva.co.uk

Hi again
I am in the process of setting up an IVA with Clearstart they are just drawing up the proposal as we speak. All my creditors are now starting to chase me and wondering why the Direct Debits have been cancelled and when I am going to make payment. I find this really difficult to deal with, what is the best advise to get rid of them ??

Hi Caraf, just tell your creditors the truth - that you have a problem but you are taking steps to rectify it (if you don't want to do it on the phone - then just write them a brief letter) and you could tell them to direct any correspondence to your IP. Unfortunately they will probably still chase you until your IVA has been accepted - so your only other options are not to answer the phone - or change your number!!! Good luck with your IVA proposal.

Sam

I am not an expert and only speaking from personal experience of my IVA. I divided up that the payment that was in the proposal between the creditors and sent them postal orders.

I was told by the IVA Company i am with, not to tell the creditors that i was going for an iva or enter into any payment agreements so i told them that i was receiving professional advice for my all my debts.

Its the hardest part as far as i am concerned and can be stressful -just hang in there because once they knew i was entering into an IVA the calls etc almost stopped immediately.

The funniest thing i remember was when we kept receiving loads of phonecalls- my husband pretended to be speaking to a creditor and told them to get lost. My face was a picture, but it sure brightened up a dark day!

Take care.

Can I just not answer the phone ??

Hi,
I rang all my creditors and let them know I was going in to a IVA. I told them the name of my IP and my client no. Most of them once they knew what was going on normally blocked any calls to me for a week or so. I did make a token payment of £5.00 each to them and I contacted them as soon as I had a update on my IVA. The only ones who were a pain as soon as I told them I was going in to a IVA was Amex. They sent be out a letter straight away telling me they were going to start legal action to reclaim their money. As it was my IVA was approved before they could do any harm. Goldfish can also be a pain as they tend to call you day after day.

Hi Caraf, I can only talk from personal experience, I am currently awaiting a remortgage offer and then my proposal can go ahead. I initially wrote to all my creditors and told them I was considering an IVA etc., and giving them the details of my chosen IP. If you can do a mail merge it's really quick as only one letter to write and your creditors listed in access. However, whichever way, I then wrote again last week as I had put in my remortgage application and sent it same letter to all creditors again listing my IP's details. So far I have been lucky with phone calls and I haven't paid my creditors a penny since I contacted IP. Barclaycard are the only creditor that persistantly rings everyday but basically I ignore them. I will continue to update them regularly re my situation as I cannot make the process go any quicker and as soon as a proposal can be forwarded that will be my best offer then they will have it. Hang in there, it does get better, I used to fret and worry and posted once about phone calls but it's not as bad as initially thought.

I was with Clearstart, just give your creditors their details, the case worker should be ok to take these calls. I did this but then I got fed up and just ignored the phone until all sorted out. I did still get calls from Littlewoods after my IVA was approved but I told them I could not pay them or I would be in breach of my agreement.

Hi,

I wrote to all my creditors telling them i was in difficulty and seeking help. I then changed my telephone number!!! I wrote again a few weeks later stating i was in the process of arranging an IVA and who my ip was. Had the normall letters but as they didn't have my telephone number no calls!

This bit is definately the worst bit. Fear of the 'what if' and 'unknown'.Did you write a note to each of your creditors? Are people actually ringing you or are you worried they might? Nobody rang me but I was terrified that someone would and I remember a debt collector calling at work to repossess someone's motorbike some years ago. That was my worst fear, that 'they' would call work and humiliate me in front of my collegues.It hasn't happened...I'm touching lots of wood whilst saying that. Once your IVA has been approved you will start to feel alot better. Cat

Your IP ought to also be writing to your creditors, or how else can they independently verify the balances owed by you. This is part of our duties as Nominee, and part of the reason we get paid a fee!

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Clearstart tend to ask for peoples' Bank Statements to proof the debt and the amount and to adjust them when the time comes before the meeting.As the charges(interest, overlimit, late charges) would be piling up like open duck hunting season before the IVA meeting.

I can count at least 9 posters with Clearstart on this board so far.


"Always think outside the box"