What are normal reasons for Beeing turned down foggy ? .
Usually if the creditors think they might get more return from other debt enforcement -- at the end of the day it is a commercial decision. Your proposal will demonstrate that an IVA will give them more than, for instance, bankruptcy.
I've offered them £160 a month for 23,000 debt which leaves me too pay back £9000 does that sound reasonable ?
Without working it out -- you have a dividend over 25 pence in the pound after fees. I have seen as low as 9 pence in the pound accepted ( mine was 31 pence). So, yes, that is a reasonable return for the creditors, by IVA standards and more than they would probably get if they sold the debt on.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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
Please try to stop worrying about it - in the majority of cases debtors are advised to stop paying their creditors - this is because you are insolvent.
Just because you stopped your payments at the last minute is not a genuine reason to reject your IVA terms - if anything it goes to prove that you are insolvent and unable to pay your debts as and when they fall due.
If your IP did not think the IVA had a good chance of being sucessfully accepted and implemented they would not have been able to recommend it to the creditors.
Please try to stop worrying about it - in the majority of cases debtors are advised to stop paying their creditors - this is because you are insolvent.
Just because you stopped your payments at the last minute is not a genuine reason to reject your IVA terms - if anything it goes to prove that you are insolvent and unable to pay your debts as and when they fall due.
If your IP did not think the IVA had a good chance of being sucessfully accepted and implemented they would not have been able to recommend it to the creditors.
I've cancelled the direct debits for both of the loans will that look bad ?
No This will not look bad Ryan - this it what we all did it will have no effect on how creditors will vote, you do not have long to go now until your meeting you will be absolutely fine I am sure try to take your mind off it the next few days keep busy that is what I am doing !!
Inter-locking IVA approved 25th Feb 2013 - F&F offer Accepted 06th July 2017 - Completion Certificate received 20th July 2017
As previously posted - it will not look bad at all. I didn't pay any of mine for a few months and, apart from the letters and annoying phone calls it was fine. Your meeting is in less than a week so please look forward to that. You will be fine. See if you can enjoy your weekend and then you are almost there. Be positive!
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
kallis3 wrote:As previously posted - it will not look bad at all. I didn't pay any of mine for a few months and, apart from the letters and annoying phone calls it was fine. Your meeting is in less than a week so please look forward to that. You will be fine. See if you can enjoy your weekend and then you are almost there. Be positive!
I've cancelled the hitachi direct debit though is that something I shouldn't have done ?
No - you cancel all payments to creditors and save some money for an emergency fund .
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
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
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
Sorry - your last post confused me as you had put quotes in from both myself and Foggy.
Cancel all of your DD's!
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
