looks like a rejection

[chris.g]

Ok, I understand and it's very, very nice of your bro to offer. If he does buy, you could declare br and then have a fresh start. Nine years is a very long time to be paying a DMP with no real security that your creditors will happy until it's all paid back. Can't imagine the OR having a problem with you selling the house as long as you have the equity left to give to them.
xx

[rollercoaster]

already owe bro a fair bit due to him helping us out. also had an email from payplan to confirm that MBNA rejected and hence my IVA not approved but O/Hs looking good with 2 major yes votes. this makes house situation confusing as im probobly going debt management.

[chris.g]

Oh Rollercoaster, I feel so sorry for you. Maybe the IVA will still work out. Hopefully when the experts are online, they may be able to give you more options,
xx

[lily]

Hi again roller, I have an autistic son too, well I have 4 of them but two are aspergers and that brings its own problems. I do believe that in BR the OR would take this into account, I went to a money adviser and told her my debt problems, she said that everything would be taken into account. I know how stressful this must be for you and just how much autistics hate change. I wish you the very best for an answer for your family.

Good luck

[lily]

One more thing I forgot to mention, my son is transported 25 miles to his school, its just the best one for his needs, mind you its a 50 mile round trip if he is poorly, or for meetings, etc. Plus in bad weather the transport can be a problem, but my boss was quite understanding on this. So if you do have to move, your son would still have his educational needs met. I know its early days yet and you are still bruised from the rejection by the ********ds but I hope you will be able to see a way forward soon.

Thoughts are with you.

[rollercoaster]

thanks lily, just sat and a chat with my husband and have worked out that if i go for a DMP, we can shorten it by upping the payment when the IVA finishes. Also my debt was £16k, and have worked out that by me opting for a DMP, my interest in the house in 5 years is protected so we might have a little equity when this all finishes. i dont know how it works but maybe we could release my bit of equity in 4th year at same time to pay off my dmp. [:)] just trying to remain optimistic

[rollercoaster]

son attends the same school that i work in, opted for mainstream as a secondary option because as i work there i know his needs are met above and beyond as the staff are fantastic. he is so happy there in his first year, we are so lucky. just dont want to rock the boat, he knows something is going on as when he tells us about things that he wants, he starts the conversation with "i know we are poor now but..." bless him. its hard to explain that we are not heading for the workhouse but we need to be careful, as he just doesnt get it if not in black and white. it either 'is' or it 'isnt' to him and thats that.[:)]

[buttercup]

Oh God RC I am so sorry to hear about your IVA & MBNA. They are one of my creditors as well not my biggest.But I am offering a lot less than you in the pound.
My only options if IVA fails is BR.

Feeling really sad for you as we travelled along this road together.

I am going to stick with Positive thoughts for my meeting and see what turns up. Flowerpot has a meeting tomorrow as well.

[rollercoaster]

im sure yours will go fine buttercup. MBNA held the majority of mine and i was just unlucky that they hadnt sold to max recovery as they nearly always vote yes. Hubby has lions share of the debt and his proposal is going so far so good. shame really coz MBNA have been really good on the phone, but next time they call its no more mrs nice guy. lol. will keep you updated on hubbys outcome. (ooooh, that sounds rude!) [;)]

[animaleyes76]

That's really sad. I got accepted with 40p/£ but as Melanie has said elsewhere they have really tightened up these days hey.

Don't give up hope though.

[emma_t]

Thats bad news rollercoaster, and very unkind of mbna to tell you in this way.
I hope you find a solution and a way forward and good luck with that, fingers crossed for your husbands iva xx

[rollercoaster]

just hoping OHs dont want mods as its complicated as it is. gonna keep smiling and hope for the best. [:)]

[angela18]

good luck..my and hubbys are interlocking IVAs, waiting for our meeting.. hope nothing like this happens, he has an MBNA and so do I.. not main creditors but still a worry, we owe them about 5600 between us. its just so much worry isn't it.. fingers crossed everything works out for you in the end RC x

[MelanieGiles]

I am suprised that your IP put this forward without prior consultation with MBNA or their voting representatives. They do have a differing view about IVAs, and will only accept those which they feel will offer them the best return. If you have worked out that you could afford to pay all of your debts off in a DMP, over a realistic time period, then MBNA will have done the same calculations.

As a tip to anyone contemplating proposing an IVA with MBNA as a significant creditor - please make sure that you contact them directly to discuss your difficulties before consulting an IP to act for you. MBNA do like to try and help their clients, but you need to be mindful of the need to offer a fair distribution to all creditors and not favour one over the others.

[rollercoaster]

its not going to be a realistic time period, over 11 years. but hoping i can up the payments when O/H IVA finish, although ive also just worked out we have switched to an interest only mortgage and with my payments continuing there is no chance of getting back to repayment and paying it!