www.iva.co.uk

My creditors meeting has been set for 1st week of july.some of the creditors have asked me to inform them when the date is set.has any one has any suggestions? to indicate if it is a good idea.I am extremely worried as I am offering 29 p in the pound.Natwest/RBS is the major creditor with almost 60000,out of 210000.I have a Natwest over draft included in that amount.I know the manager and he is aware of my predicament.
Hara.

Hi Hara,
My creditors meeting went on like most by proxy and nobody turned up, we are all just small fish my IVA was for £125.000 some vote and some don't.
Don't be worried the only reason to worry would be if one of your creditors was unaware of how the system worked (like a builder you hadn't paid etc)and decided to turn up at the meeting.
I had a coffee signed the papers and left.
Im'e no expert but it should go through myn went through at 21p in the pound.
Your Natwest manager won't be concerned.
The RBS situation may need clarification from an expert member like MelanieGiles who is an IP on here.

Regards
Adrian

Hi Hara

If you know the date of your creditors meeting, then I am sure that the creditors do as well, as copies of your proposals will have been sent to them at the same time as you were informed.

At the time of writing, RBS do not seem to have a minimum dividend criteria, but 25p in the £ is the one which is generally accepted.

Adriad is quite correct - creditors meetings are largely "virtual" these days

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

My IVA was accepted at 27p in the pound with my debt to Natwest, (who voted yes) being nearly 50% of the total.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

I am contemplating a letter to all My creditors before the soon to be held creditors meeting, briefly explaining my misearable position and asking for support

Would it help?

Has any one any suggestions?

Hara

Hara

I really don't thing this letter will have any effect at all - and I would advise you not write it. The matter is being dealt with by your IP - do leave matters in their capable hands.

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

Hi
Just to agree with Melanie.
Leave it all to your IP,you do not want to contradict anything that your IP has already stated in your proposal.
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

Dear Melanie and Andy thanks for the advice

hara

Hi all,

Despite being aware,A few days ago I was sent a court claims form by American express through their solicitors Brachers, who were aware of the situation as well.
It was extremely worrying.
I have completed an acknowledgement of service form, ticking the box I intend to defend, as adviced by My IP.
This gives me an additional 14 days taking it to 24th of June,by which time as I understand I have to complete other forms.

As my creditors meeting is going to be held in 1st week of July iva decision will not be in hand before 24th of june dead line for comletion of court papers.

Though what is owed to American express is not in dispute,they have added add file referral charge of almost two thousand pounds!

This has bumped up the amount owed to over 13000.

I am not happy about this additional charge of 2000.

Can I object to this.

If that is the case I presume I have to fill up the forms.

Can I just enclose income and expenditure form by Ip from proposal form.

I have made the court aware of I seeking iva on the phone.

I would be appreciative an advice.

Thanks.
hara

Hara
Again you need to be guided and driven by your IP.Just refer any communication to them,they have your best interests at heart and know what they are doing.
Their job is to propose your IVA to your creditors and yours is to supply the information that they require.
A county court judgement will be meaningless once your IVA is agreed and most creditors will add on legal fees etc to the final amount owed.It,s all pretty standard.
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