looks like a rejection

[rollercoaster]

meeting tomorrow at 1pm, but just had a phone call from MBNA asking me what id like to do as my IVA has been rejected. they hold 50%ish of the vote and they have obviously voted against.[:(]
hoped all would be ok as IVA interlocking with other half and there is no point if mine is declined. no point waiting for that call tomorrow now.[:(!]

[aguise]

I would ring your IP and tell them what has happenened and get their advice. I would do it straight away. All the best.

Ang

[Phil]

Please ring your IP Imediatly,Could be a MBNA call centre trying to scare you into paying something over.

P

[chris.g]

Oh rollercoaster, what a horrible thing for MBNA to do. Contact your IP and get some advice from them. Maybe it's just a last ditch attempt for them to try and get some cash from you. Good luck,
xx

[animaleyes76]

This is the usual tactics from MBNA. As others have said, contact your IP.

Good luck )

[sjw]

mbna are a b***** nuisence they ring my constantly. hope things work out for you.

[rollercoaster]

have spoken to payplan and MBNA have voted against, which blows my proposal. Need to wait if O/H is accepted but it makes it more complicated than ever. Do we now go ahead with O/Hs (if accepted) if i need to go debt management or BR.
at least if we both went debt management, we could sell the house. Bro offered to buy the house to clear the mortgage and secured loan then if we want to, rent it back (which would be much cheaper than what we pay on mortgages). If O/H goes into IVA, then we would not be able to do this and i will be in debt management for nearly 11 years. Oh this is soooo annoying, why did they have to ring me today.
MBNA are so awful, my proposal offered 44P/£. [:(]

[aguise]

Hopefully Ian or Melanie will be along to give their opinions. Did payplan not make any suggestions? of the best way to go from here. I am so sorry, but take heart there will be a solution. Possibly bro buying the house which will give you more disposable and therefore allow you to pay more and get rid of the debts quicker. Anyway i am not clever enought op answer I am just thinking out loud. Just want to reassure you that there will be a way and you will get there .

Ang

[debbiw]

So sorry to hear your news rollercoaster. Hope things look up soon x

[chris.g]

If your bro bought the house would there be any equity to offer a F&F? As Ang says, it will give you a bit more cash to play with. Seems as if MBNA are cutting off their nose.... seen IVA's been accepted for much lower p/£. If you file br they risk getting much less.... doesn't make sense.

[rollercoaster]

question? If OH proposal accepted tomorrow, could we then say that given the circumstances we would both like to go into debt management, and try again at a later date. i just dont like the idea of being in different plans. IVA I/E is tight enough for 5 years but if i was in debt management it would be a tight I/E for 11 years and the house would be tied to O/H's IVA so could not be used to alleviate the debt term!

[lily]

MBNA always seem to me to want to make their own deals with their debtors, but often get voted out by other creditors having more of the total value.

I really hope you get some peace of mind with this soon, roller, it must be very disappointing for you. You have come so far and although its a blow you have faced this head on and put your best offer forward, you should be so proud of that. I hope that your IP can offer something to make the said *********ds see sense. Its stupid, they seem to be throwing money away.

Lots of love

[rollercoaster]

chris, there would be no equity to offer FF as there is less than 10K in the property and this would be effectively swallowed by fees. bro only offered to buy house as he knows it would be huge upheaval for us to move into rented as we have an autistic son and live in an area with no rental, cant move to far because of school, work, health visitors ect

[rollercoaster]

and thanks lily [:)]

[aguise]

Hi again would bankrupcy be an option for you both if your brother bought the equity , you could maybe buy it back from him in the future.

Ang