Hi Austint36
Its unusual for something to be completely refused these days, your IVA firm will have most likely worked out an acceptable proposal with you. It might well be the case they'll be minor modifications, but these dont normally affect you as an individual much if at all.
If it is refused then its back to the drawing board, but it might be able to be re-drafted if whatever caused the refusual can be overcome. But its unlikely you'll be refused, so I wouldnt even think about it if I were you!
I think I have seen only 1 refusal in the 2 years I have been on the forum and even then the IP worked their socks off to get it through a few days later, have faith!
I know it won't make the doubts go away - but we all felt that our IVA proposals would be rejected. We had a request to modify the payment which we agreed - this was all sorted the morning of the meeting.
Austin36 - Good luck. Think you'll be ok. What is your dividend offer? - The banks need to get some money in because of the amount they're dishing out on PPI
Completed IVA - August 2012 pheeeeeeeeeew
Only my opinion - Nothing More Nothing Less
We had our IVA`s approved in March. Originally the creditors meeting rejected the proposals, but it reconvened and approved them just over a week later. In the intervening days I liased with our IVA company and tweaked some of the details and prepared responses to the creditors` concerns.
So even in the very unlikely event of an initial rejection there`s still an opportunity to restate your case. As others have already said they wouldn`t have put it forward if it wasn`t meritable and only a tiny percentage get rejected.
Best of luck
[:)]
Last edited by Hyperdrive on Wed Dec 05, 2012 7:12 pm, edited 1 time in total.
