Got everything crossed that you something today or tomorrow Bradders.
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
They are shut over the Christmas period so I hope she can get back to you tomorrow morning.
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
Thanks Kallis but GT arent working for me but for the creditor who wants to make the modification. It's positive that they may be working tomorrow though as we might get to a solution before the doors shut and phones switch to voicemail.
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
Keep pestering them in the morning. You need to know something before Christmas.
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
Well my hearing got adjourned until 5th Jan. The sticking point is over maintenance payments for my 18 yr old son who lives with his mum but comes to me on average every 2nd weekend. He's in FT education studying for his A levels then planning to go to Uni next September. My agreement with my ex wife was that as I could only pay a certain level of Maintenance, that it would carry on through A levels and then I would pay him that money directly whilst he's living away at Uni to help him through. Grant Thornton are having none of this and want me to stop paying it immediately and pay that into the IVA...thus raisng it to a level that I couldnt afford as even if I did agree to pay them this sum, I would still somehow find a way to pay this maintenance, even though I couldnt afford it, so it would fail.
My IP thinks that GT won't back down as they'd see that as setting a precedent, although none of the other creditors have an issue with the return they are getting. So unless they have a change of heart when they re open, it looks like we won't get this through, meaning that bankruptcy would be the only real option.
Oh dear Bradders, i hoppe that some of the festive spirit will spill over to the 5th Jan and you will be able to keep the agreement that you have come to with your ex wife and son. Fingers crossed that this is the case, good luck.
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
Hi. How much (percentage - wise) are GT acting for ? I assume they have a deciding vote.
Is BR a viable alternative? If you are willing to go down the BR route and have no assets to offer to the OR GT would be being somewhat dense in forcing you to go that route, as their clients ( as well as all the other creditors) will get a smaller return.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I'm sorry to best that bradders. I hope they have a change of heart. It won't do anybody any good if they force you into.bankruptcy.
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
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy
Hi. How much (percentage - wise) are GT acting for ? I assume they have a deciding vote.
Is BR a viable alternative? If you are willing to go down the BR route and have no assets to offer to the OR GT would be being somewhat dense in forcing you to go that route, as their clients ( as well as all the other creditors) will get a smaller return.
They're about 33% so do have a deciding vote. The thing I don't understand is, GT are acting for Barclays and as you say, if there's no agreement, then BR is the only option and Barclays will get a much lower return in the pound, in fact so little that it'd hardly be worth them bothering. That being so and given that the return via the IVA is pretty good, you'd think that the best alternative would be to make the IVA work. They've already proposed a modification which my IP has accepted, which raises the payment by £45 per month, I don't actually know what that is for.
In terms of BR, I think the most the creditors would get out of selling our house after selling coats would be 10k, split 4 ways.
You'd have to pay an IPA as well most likely for three years so they would get slightly more back.
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
