You've completed your SIP call - here's what happens next
Your case is now with our aftercare team. We'll guide you through the next steps, keep you updated, and let you know if we need anything else before your creditors' meeting.
Your current progress
✅ Advice call completed
✅ SIP call completed
👉 Proposal being prepared
⚫ Creditors meeting booked
⚫ IVA decision confirmed
Important: you may need to change bank account
If you owe money to the bank you currently use, or your advisor has told you to change bank accounts, you should start this process now. This helps protect your income and makes sure your priority bills continue to be paid while your IVA proposal is being prepared.
Why is this important?
If you owe money to your current bank, they may be able to take money from your account to reduce what you owe them. This is sometimes called the “right of set-off”. Changing to a new basic bank account with a bank you do not owe money to can help avoid problems with wages, benefits or bills.
✅ Open a new basic bank account with a bank you do not currently owe money to.
✅ Move your wages, benefits, pension or other income to the new account.
✅ Move important bills such as rent, mortgage, council tax, utilities, insurance and childcare.
✅ Tell the aftercare team once your new account is open so we can update your file.
Do I definitely need to change banks?
Not everyone does. You should change banks if your advisor has told you to, or if you owe money to the bank your income is paid into.
Which bank should I choose?
Choose a bank or building society you do not currently owe money to. A basic bank account is usually best. If you need help choosing a bank please get in touch.
Should I wait until the IVA is approved?
No. If you have been advised to change bank accounts, it is better to start now so your income and bills are moved in time.
Should I close my old account?
Speak to the aftercare team first. In many cases, you should stop using it once your income and bills have moved, but we can guide you.
What happens over the next 14 days?
Most clients are now waiting for their proposal to be prepared, reviewed, and sent to creditors. It is normal for creditors to continue contacting you during this period.
TODAY
Aftercare receives your case
We check your documents, notes and signed forms to make sure everything is ready.
DAYS 1 - 5
Your proposal is prepared
Our team prepares the proposal and may contact you if anything is missing.
DAYS 5 - 10
Inoslvency Practitioner review
Your Insolvency Practitioner reviews the proposal before it is sent to creditors.
AROUND DAY 14
Meeting of Creditors - MOC
Creditors vote on your proposal. We’ll contact you as soon as we have an update.
What you need to do now
To keep things moving, please follow the points below.
✅ Reply quickly if the aftercare team asks for extra information.
✅ Keep your phone nearby and answer our calls or WhatsApp messages.
✅ Tell us if your income, bills, rent, mortgage or household changes.
✅ Do not take out any new credit while your proposal is being prepared.
Still hearing from creditors?
This is normal before your IVA is approved. Letters, calls, texts and emails may continue. Send us anything you are worried about and we’ll let you know what to do.
Common Questions
Should I keep paying my creditors?
Speak to your advisor or aftercare team before making any payments. We’ll explain what applies to your specific situation.
Can creditors still contact me?
Yes. Contact can continue until your IVA is approved. Try not to panic — this does not mean anything has gone wrong.
Can my IVA be rejected?
Creditors do vote on your proposal. If there are any issues, we’ll talk you through your options.
When will I know the result?
We’ll update you as soon as your creditors’ meeting has taken place and we have the outcome.
What if something changes?
Message us straight away if your income, bills or household situation changes.
Who do I contact?
Your aftercare team is your main point of contact until your IVA decision is confirmed.
Need help or worried about something?
Message the aftercare team on WhatsApp. Please include your full name and date of birth so we can find your case quickly.