So we put an offer through to GT and they phoned me on Friday to let me know that they are willing to put my offer through to the creditors. I have to have a conversation with them over the phone on Wednesday about what will happen if they accept/refuse and some other things I think... Just wondering, would GT only put an offer through that they felt would possibly be accepted & if the offer if refused will our IVA terminate?!
They would not put this forward if they didn't think it would be accepted and if it's not then your IVA will just continue as normal.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
But its not their decision. They can tell creditors whether or not they recommend it but they have a duty to put the offer forward, whether they approve it or not.
Lisa - this is becoming a common theme and some companies have refused to put forward offers.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
I agree with Lisa that companies should put the offer forward. I had no problem with Payplan (apart from adjusting the figures slightly) but they did put it forward.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
As far as I am aware the standard t&cs state that IP must call a meeting within 21 days if requested to do so by debtor or 25% in value of creditors make a request unless the Court says otherwise.
I don't doubt you - I can only say what appears to be happening.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
just make sure anything you put forward doesn't have some clause about if unaccepted then they can petition you for bankruptcy, I have read on here some people ask to have that clause removed.
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register
IVA ended August 2015. Would recommend McCambridge Duffy
Your request for a f&f offer has to be put to creditors irrelevant of the opinion of your IP ..they are duty bound. They should work with you to ensure the offer you are making is written in such a way that creditors will approve it. They may offer suggestions to enhance the offer but it is your decision as to whether you agree to those enhancements.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
