www.iva.co.uk

Hi,
myself and my husbandjust started going into iva-very scared. our creditors never stop ringing us day and night. Our IP is still in the process of contacting them, for me it's dragging a bit. Our major creditor is with Barclays... 40K and the rest 20k from various creditors. Any chance at all that Barclays would agree or vote? in your experience?



macallet

Hi Mary Ann and welcome to the forum

My experience of Barclays is that they are a very supportive creditor (so long as the proposal is the best way forward for them and that you have considered all options), and we have a good relationship with the people who are the decision makers.

I hope that your own IP has a similar relationship, and you should be fine with your IVA proposal. Is there any reason why things are taking so long?

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi Mary Ann

I can't give you any advise on Barclays but I'm sure your ip would not but put a proposal forward without a good chance of it being accepted. I know this is a very scary and stressful time but hang in there, it will get better. Have you got a date for the creditors meeting yet?

Pixie

Barclays were my main creditor.. like £80ks worth,and they were fine...I really wouldnt worry too much![;)]

credtors are unpredictable, in my case Barclaycard and Barclay loan didn't vote..but Barc Overdraft did??? What's thinking behind this??

Make sure your IP get BARC to vote first time round. Someone posted here that they didn't vote even with 20k

The phone calls are a real pain Mary Ann and can be really stressful. I managed these by setting up call divert on my home phone to my mobile and any calls with a number I didn't recognise i didn't answer. It cost a little bit extra for a while as with call divert you pick up the cost of the call from your home telephone but it was well worth it for the peace of mind.

Barclays voted yes in my case as well. Hang on in there, the peace of mind when it completes is well worth it [:)]

Debbie

www.babynamings.co.uk

www.soulgrowth.co.uk

Hi, my dad has an IVA all agreed about 6 months ago and his main creditor was Barclays (approx 30k) they agreed his IVA with no problems.

Hope all goes well.

Hi Mary Ann

I also think Barclays or Barclaycard should not be a problem when voting in favor of IVAs. Both of them voted at my IVA meeting, the only 2 out of 7 creditors. I know someone said that creditors can be unpredictable but maybe they do scrutinize each proposal have certain criteria etc. I wish i knew. In fact I would be very surprised or shocked if they didn't vote as they would have a lot more to lose!

I wish you the best of luck for your meeting - fingers crossed!

Maz

Hi
How long has it been since you started the ball rolling with your IP ?
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Hi Andy,
I managed to sort out my password.
Our IP started this cycle about a month ago. We haven't sign any papers yet. Could you please let me know roughly how long does it takes the whole process? we've never done this before, so haven't got a clue. But i think it's dragging a bit or am i just too impatient.
Thank you.
Mary Ann

macallet

An IVA should take no longer than 4 - 6 weeks from the time your IP has received all documents from you.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi Mel,
Thank you. We handed all docs. to this firm 4 weeks ago. They've appointed an IP for us both who is now dealing with our papers. I spoke to him over the phone today and told him my frustrations that this whole thung is really dragging. He simply said to me that he is not finish yet with hin draft for us to sign and he should finish it within 2 days. And that reply made me think that it's not the creditors at all that we're waiting, it's him our IP who is a bit slow. He was also telling me that after we've signed the docs. it would take 14 to 28 days for it to go through the creditors. I am very stressed on this. WE've sent the 1st. payment already of £250.00 to this firm (6 weeks ago). Any advice at all on this. My husband was saying not to harras or keep ringing our IP as he might not perform weel on our behalf.
Thanks for your info. without this forum i wouln't understand a single thing about IVA or shall i say the process.

Did you find the IP directly or through an intermediary firm? If, as I suspect, the latter, then the IP himself may not have had the case for long.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi,
Yes, there's an intermediary firm, unfortunately.

It is a hellish time as the IVA is being prepared and an intermediary does slow the process down - in our case the whole process about 10 weeks but about 5 of this was spent with the intermediary. It is incredibly stressful I can remember being on the forum in the wee hours being really stressed at work and coming home to the endless call and letters!
BUT! - remember they can huff and puff but they can't do anything really bad within the time period that it takes to sort the IVA out. And you are on the way to a solution to your problems - just think within a few weeks you will be reducing your debt as opposed to watching the balances build as the interest gathers.

So chin up [;)] - remember as well that IP's are very well paid and do not take cases on unless they are pretty sure they will get accepted after all its their living![^]