Variation rejected

[freelili]

Hi Julie

Just wanted to say how sorry I am that this has happened, I am suprised they would rather not accept something back. I know its all a bit up in the air right now but everything happens for the best in the end. So much to have gone through for it to end like is must be very upsetting for you.

However its not all been a waste of time, as you have shown your committment to stand by hubby and try to address the debts in the best way you can. The creditors took that away from you and dont deserve another penny.

Good luck hun, a welsh hug from me too.

[Julie]

Thanks again,

I'm taking the advice and doing the forms online. Hubby's has a call booked with a lady from the courts tomorrow, just to know what they need from our IP, apparently different courts accept different documentation.

Accuma have been in touch, there's in the region of £12k in the pot, so they'll take a "small fee" and the rest is distibuted to the creditors - I'm so glad we didn't pay the past 2 months, at least we have funds to pay for BR.

I really want this to happen as quickly as possible, I need to get a valuation done on the house to see what share of equity,if any hubby has, as I will need to raise the funds to buy it. Looking at a similar property on the market I think we're in negative equity, not sure what happens there. Then, I need to know how much we have to pay each month into the BR......listen to me going on, I don't want much eh [:D]

2 good things have come out of today, I have got an extension on my assignment deadline, as I had to tell tutor I was too stressed to concentrate. Also, hubby as you know is useless at dealing with finances, so as a trade off he's done all my ironing!! [:)]

Thanks again for the support and special thanks to Skippy for both on and off forum support. I know you've been down the same route and I appreciate your advice.

[kallis3]

I'm glad you're fairly positive Julie. And getting your ironing done has to be a bonus!

It sounds as though you should be done and dusted fairly quickly so that you can both get on with the rest of your lives.

[Skippy]

Any time Julie [:I]. If your house is in negative equity you can buy hubby's beneficial interest for £211, which is £1 for the BI plus solicitor's fees - hopefully if the fee has changed one of the experts will correct me.

[johnh]

Julie, just to echo everyone's feelings of sorrow that your creditors have taken to shooting themselves in the foot. Not difficult to see why the banks are all going down the tubes, is it?
You are such a positive person and so sensible whether talking of your own circumstances or helping others, that I am sure you will come through all this for the better. Best of luck and keep us informed of your progress.

[Julie]

You all say the nicest things [:I][:I]

Thanks for the advice on negative equity skippy - I've gone into practical mood now and am doing lists etc..I've just re-read your blog Skippy and its full of answers to my questions so thanks again.

Had email from IP - commented on my blog......glad he's reading it [;)]

I'll keep you all updated xx

[kallis3]

Good luck Julie - you deserve it.

[MelanieGiles]

This is a ridiculous situation, and I cannot understand why this variation is being rejected. Julie - if you need any help with anything you know where I am. I will get slapped by Admin (or possibly Jan! here) but you are local to me and if you want to have a chat just do so. I cannot help but thinking a stiffer word with the creditors who have rejected might make them think again, but it is difficult for me to advise without sight of the paperwork.

[Julie]

Thanks Melanie - I'll call in on see you on Friday if thats still okay. I'll bring the proposal and show you the emails received explaining the reasons for rejects. I've started completing the BR forms online - its disheartening to think we've come this far and now it fails. I'm just glad we've done our best.

If Friday's not suitable, don't worry, I know you're busy.

.....oh and I'll bring some Jaffa cakes too [:D]

[David Mond]

Great - see Melanie and bring her a list of all your creditors, your original proosal and the suggested variation - I am sure she may be able to help. If there are any special creditors that Melanie needs any help on ask her to contact me and I'll see what )if anything) I can do. good luck.

[kallis3]

No, you're ok Melanie - I shan't be smacking your fingers!

[Julie]

[:D] Jan..

I've had another email from Accuma, detailing what the next steps are. It could take until March for the IVA to officially fail...seems a long time to me. Can hubby go BR without this official notice do you know?

He missed the call from the court today, thats the trouble when you're working all the hours. He's left a message back though and hopefully I can free some time tomorrow to give them a ring.

I wish I could share the contents of the email from Accuma, it beggars belief the nonsense they come out!! However, I am too professional for that.

xx

[Lisa2009]

I just cant understand how the creditors would rather get nothing than something a little less than has been paid each month so far.

I really hope you and Melanie can sort this out. Will be thinking of you xxxxxxx

[kallis3]

You do wonder Mrs S. Surely something is better than nothing?

I hope Melanie can help you out tomorrow Julie.

[Lisa2009]

You would think that the time this IVA has been running is proof enough that they want to repay the debts . A little bit of compassion wouldnt hurt.
More fool them i say.