for iva approval every detail must be looked at

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Post by pnn » Thu Apr 12, 2007 7:33 am
ive been reading all the post recently about northen rock we had a iva rejected in jan due to them ,but after meeting with melanie and now understanding why they rejected us due to our proposal being completly wrong as blair endersby didnt give our creditors the best proposal at all
we are now starting a new iva with melanie and offering 55p in the £ on debt of 46,000 we think and we hope this is a better offer for the creditors and lets keep our fingers crossed northern rock will aprove.
i know melanie has put the best proposal forward and this time the creditors will see this .i think to get a iva approved every detail needs to be looked into


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Post by aguise » Thu Apr 12, 2007 7:51 am
Hi pnn
I think you are right Northern rock need handling with care. All the very best with your new proposal I am sure Melanie will put a great proposal for you, reading posts she has more success than most with this company.

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Post by pnn » Mon Apr 23, 2007 10:42 am
we in 47000 in debt just got proposal for iva with melanie offering 64p in the pound
£500 for 42months £625 for 30months
we didnt know it would go on for 6yrs
my husbands overtime was added to the proposal but he only gets this 6monts of the yr so the other 6months we will never be able to afford it
income combined is 2150 pm
outgoings 1423 leaving us £723 a month
so really we could only afford max £350 for a iva
we are putting the house on the market and should get 13,000 equity after fees
could we do a iva using this 13000 plus £350 a month for 5yrs
please help melanie is away so im hoping to find some answers as im not going to sign this proposal as i have 2 small kids and £625 will be to much to pay any advice greatly appriciated

Adam Davies

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Post by Adam Davies » Mon Apr 23, 2007 12:49 pm
Wait until you speak to Melanie,I,m sure that it will make sense once she explains it too you.
I imagine the extra year on the IVA s to increase the dividend to keep Northern Rock happy.
Please let us know how you get on

Andy Davie Spokesperson and site manager
(aka Neverending)

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Andam Davies


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Post by MelanieGiles » Sat Apr 28, 2007 9:53 am

Please speak to either myself or my staff working on your case directly about any concerns with your case. My office continues to operate even though I occasionally take holiday!

I would never put you into a proposal you could not afford, but the figures contained within the proposal are taken directly from information you have provided to me and as discussed at our recent face to face meeting.

The sixth year (which was discussed with you as a possibility during our meeting, dependent upon my recieving a current independent property valuation) clearly serves to address the equity in your property - you will recall your local agent produced a higher valuation of £143k against the old valuation used by your previous IP.

I will speak to you about this directly on Monday, but felt I needed to answer your points publicly, given the suggestion that I have sent you proposals which do not accord with your specific circumstances.

As you already have had one IVA proposal rejected, you have to make an improved offer if you insist on trying this procedure, and I am sure that we will get to a position that suits you shortly.

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

For further details contact me at and view my IVA blog at:
Regards, Melanie Giles, Insolvency Practitioner
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