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Hi Guys,

I've finally got our Creditors Meeting date - 3 September @ 2:00 - already got butterflys!! Also, it just happens to be the day that my son returns to school - and is starting year 1 (he's a big boy now)! So, I won't beable to attend the creditors meeting, does anybody now if this has an impact on the final decision??

Also, I have a question regarding payrises!! I currentl work full time and have 2 kids - age 1 and 4! I'm desperate to work part time so I can spend more time with my family (also, my eldest son has a few problems)! As it would be impossible to lose money at this stage, I have come up with a plan! We have just been informed of our annual pay increase (I'm a civil servant), so are thinking of dropping my hours by 4 a week, so any payrise will be cancelled out by my decrease in hours! Therefore, i will still be on the same wage but working less hours! My husband has said, when he gets his pay increase in January, I can drop my hours again, and carry on doing this each year with each payrise!! Therefore, we will still be bringing home the same monthly wage in 5 years, but I should be on part time hours!
Do you think this would be accepted by my IP (if our IVA is accepted) and our creditors?

Very few people, if any need to attend the meetings these days, and most of the voting is done by proxy votes by fax prior to the IVA meeting. For me, I kept a communication silence with my IVA firm as I knew the votes were coming in a few days before and on the day of the meeting.

They now tell me they knew the outcome was positive before the meeting day as many YES votes were cast.

Good luck!

No need to attend creditors meeting - but you do need to be available by phone.

Your suggestion to reduce your working hours appears reasonable, so long as it does not affect your ability to fund your IVA payments.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

As others have mentioned there will be no need for you to attend your creditors meeting, however you will need to be available on the phone.

It sounds like a good plan that you have come up with, as long as you can still make your IVA payment each month I wouldn't think it would be a problem. Speak to your I.P as soon as you want to take action on this plan just so they are aware of the changes.

Best Regards. IVA Experts