www.iva.co.uk

My husband's IVA proposal was rejected today by the Halifax and Tesco a.k.a. Royal Bank of Scotland.

The reason given was something to do with the two non-dependants in the household but they didn't go beyond this in qualifying what was behind this reason. I believe the creditors are referring to my two daughters.

Having revisited the paperwork the IP prepared it refers to my husband living with me and my two grown-up daughters. What is not made clear from the paperwork is that both my daughters are at University, which I am hoping our IP will make clear to the creditors tomorrow as they have been unavailable today. I cannot understand why it would be rejected with this reason unless they think that my 'two grown-up' daughters contribute board and lodgings and we didn't declare it.

As my daughters' time is split between myself and their father and they are at University, they do not contribute anything!

Can any of the experts think of any other possible reasons as to why the IVA would have been rejected on the basis of the two non-dependants?

This is a devastating blow to us today and has added considerable pressure to our marriage. I never took it for granted the IVA would be approved but from previous postings I was cautiously hopeful.

If these creditors do not reverse their decision I have no idea what will happen [:(]

Hi Minnie

I am not an expert so can't advise on the technicalities, but just wanted to say how sorry I am for you. It must be awful after all the time and stress it takes to get an iva proposal together.
I just hope that your IP can clarify your position to your creditors and hopefully move forward with a solution.....

Good Luck - I will have my fngers crossed for you x

so sorry to hear this, it sounds odd, no wonder you are confused. couldnt your IP be more specific with what they meant by the 2 non dependants...?

Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/

Thank you both - I am so close to tears now and just feel at my wits end.

The IVA is just for my husband and I have done everything I could to help the figures work, even consolidating my own debt when I didn't need to.

can i just say...although we all give advise of "be strong" etc...it is ok to have a cry....being strong isnt about not crying and if you feel like have a good old cry then do so. Massive HUG for you....and i really do hope tomorrow is better for you. xx

Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/

Hi Minnie
Sorry you have had your iva rejected,i can't answer your question as im not an ip.
I should think that until you speak to your ip and get the full facts you will not really get the answers you need.
O ne of the ip's who posts on the forum has just got back from holiday and hopefully will be able to shed some light on your question.
Don't loose heart i'm sure your ip will fight your corner and if its possible will get you the result you were hopeing for.
Good luck

Tracy

Thank you Angie x

It does mean a lot to be able to share how we are affected by this whole process, especially when it is not something you can share with family as it is a private matter.

I know hubby feels he has let me down and I do try to be strong and positive for him but I think as I have sat and read through some postings on this forum, it's just all got to me.

My fella felt the same way...its hard as they have this male ego and feeling of being the provider. But i bet he provides so much more than just money...anyone can do that...it takes a real man to provide love, time and respect.

Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/

Sorry to hear that Minnie. You have professionals working hard for you and I sure a solution will come. There is always a solution.

Sorry to hear that your IVA was rejected, I hope you find a solution soon.

Good luck

lily

Hello Minnie

In the last few days TIX (who vote for RBS) have become rather more nitpicking than before (asking for £40 more as an example mentioned on another thread)

Up until now they have been very supportive in their voting policy under their new protocol but I think that this is a policy that is here to stay.

In your particular circumstances I an sure that they are under the impression that your daughters should contribute to the household budget but, as students, that clearly isn't possible.We have found that TIX are prepared to change their minds where it is clear that they have voted on a misunderstanding so hopefully your IP will be able to clarify this with them tomorrow and get them to change their mind.

So don't give up hope too soon and let us know the outcome.

Hi there minnie,
I just wanted to say that I am so sorry to hear about the rejection, but hang in there for a little while longer I am sure you IP will be trying as hard as they can to clear this up for you, afterall its in everyones interest for this to work. So stay strong ok I am sure there will be an answer for you today! I am thinking of you x

Why spend life worrying...when you can spend it smiling!!

Hi
I would think that from the info that you have supplied and Catullus's input that it is a misunderstanding regarding your childrens contribution.Hopefuly your IP has adjourned the meeting and that will give your IP time to talk with TIX.
It's a pity that your IP didn't make this clear in your proposal,but hang in there as all is not yet lost.
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

Can I just add that a lot of IVA's are initially rejected by a lot of creditors, but good IP's will continue to negotiate in an attempt to turn around the decision.

This happens all the time in my practice, as we continue to strive to deal with the ever changing attitudes of creditors in the marketplace. If the IVA is the right solution for debtor and creditors, and your husband has put his best foot forward, then you should get the right result at the end.

And a little bird tells me there might be some good news for you soon!

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

Sounds positive Melanie...i am sure some good news is just what Minnie needs. xx

Angie xx


My IVA Story......http://bagpuss.blogs.iva.co.uk/2007/09/ ... iva-story/