When do payments start?

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debtfreesusie67: Posts: 307; Joined: Sun Feb 17, 2008 2:41 pm; Location:

by debtfreesusie67 » Mon Apr 14, 2008 8:40 pm

If and when an IVA has been accepted, when does the first payment normally occur.

Sue[:)]

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rollercoasterride: Posts: 79; Joined: Thu Mar 06, 2008 6:23 pm; Location:

by rollercoasterride » Mon Apr 14, 2008 8:42 pm

My first payment was taken on the day of the acceptance, over the telephone with my debit card. My 2nd payment is due tomorrow!!![:D] 2 down 58 to go!

Last edited by rollercoasterride on Mon Apr 14, 2008 8:43 pm, edited 1 time in total.

MelanieGiles Industry Expert

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by MelanieGiles » Mon Apr 14, 2008 8:43 pm

Hi Sue

It is my personal preference to get the first payment in advance of the creditors meeting, at the time clients sign their proposals, and the following payments are therefore made on a monthly basis thereafter. Other IPs may have different policies.

Regards, Melanie Giles, Insolvency Practitioner

debtfreesusie67: Posts: 307; Joined: Sun Feb 17, 2008 2:41 pm; Location:

by debtfreesusie67 » Mon Apr 14, 2008 8:44 pm

Thanks Melanie

Sue

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pm5: Posts: 207; Joined: Tue Mar 25, 2008 12:15 am; Location: United Kingdom

by pm5 » Mon Apr 14, 2008 9:13 pm

My first payment had to come out within one month following the IVA being accepted, but as Melanie said other IP's are different.

angela18: Posts: 2668; Joined: Wed Feb 06, 2008 6:04 pm; Location: United Kingdom

by angela18 » Mon Apr 14, 2008 10:00 pm

My first payment went as a cheque to Melanie when I signed and forwarded our proposal

Ang.. 13 payments in.. WOW, thats over 20% paid!! http://angela18.blogs.iva.co.uk/ well here we go

if you wish for a rainbow... then you have to put up with the rain xx

debbiw