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Declan at DebtFreeDirect

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Post by Declan at DebtFreeDirect » Fri Sep 11, 2009 11:17 am
sorry honneyj, i realised you mentioned the time. 3:40. I will certainly be watching out for it.
Declan Murray
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Debt Free Direct - the UK's largest IVA provider.
http://www.debtfreedirect.co.uk/iva/
 
 

caraf

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Post by caraf » Fri Sep 11, 2009 11:30 am
Best of Luck from me too
Hope all goes to plan.
x



We are over half way through now, cannot believee how fast it has gone. It is the best thing we have ever done.
Last edited by caraf on Fri Sep 11, 2009 11:32 am, edited 1 time in total.
53 down 7 to go !!
Cant wait till December 2012
 
 

HONNEYJ

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Post by HONNEYJ » Fri Sep 11, 2009 11:37 am
Thank Declan,

DFD already have a SO set-up on my bank account - if I'm not succesful today will that be cancelled as its due out on 25th September.

A bit presumptious for it to have been setup before its gone through...
 
 

Declan at DebtFreeDirect

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Post by Declan at DebtFreeDirect » Fri Sep 11, 2009 11:48 am
Hi Honney
The reason for this is to ensure a smooth start to the IVA.

I'll be keeping a close eye on the outcome and your in safe hands with Francesca, your MOC advisor.

Thanks
Declan Murray
Debt Advisor
Debt Free Direct - the UK's largest IVA provider.
http://www.debtfreedirect.co.uk/iva/
 
 

Michael Peoples

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Post by Michael Peoples » Fri Sep 11, 2009 11:49 am
Best of luck to you both. Would be nice to know everything is fine today and you can have a couple of beers and enjoy the weekend.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Skippy

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Post by Skippy » Fri Sep 11, 2009 12:22 pm
Good luck Honneyj x
 
 

sprowstonboy

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Post by sprowstonboy » Fri Sep 11, 2009 12:25 pm
Honneyj, Just to wish you better luck than i had today!
 
 

HONNEYJ

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Post by HONNEYJ » Fri Sep 11, 2009 1:28 pm
thanks sprowstonboy, gutted to hear your news and hope next week brings something more positive.
 
 

HONNEYJ

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Post by HONNEYJ » Fri Sep 11, 2009 2:17 pm
My husband has just rang me to advise we have a letter from Northern Rock to state we have been charged £63 on top of our joint loan for the privilage of their vote.

We are proposing that we continue to pay them in full as my husband is not applying for an IVA and is down as a contingent creditor, do these people not appreciate how much debt I already have without adding to it!!!!!!

Is this normal - I wish I knew more about what is going on and what creditors may do - I'm a bit lost.

I even had a leter from a catalogue company yeterday saying they were sending my account to a debt collection agency even though they have had notice of the creidotrs meeting.

Feeling the blood pressure starting to rise now - ooh how bad if I cry at my desk!!!
 
 

Julie

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Post by Julie » Fri Sep 11, 2009 2:20 pm
It is normal - we had another post recently about NR charging for the vote. If it means they've actually taken the time to read and serioulsy consider the proposal, then its money well spent. The fee will be added to your NR debt and dealt with via the IVA, so don't worry.

Its also normal for debts to be passed to debt collectors, again don't worry. When the IVA is apporved send all letters toi your IP for them to deal with.

Not too long to go for you now...try to keep strong xx
 
 

HONNEYJ

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Post by HONNEYJ » Fri Sep 11, 2009 2:24 pm
I actually didn't think NR would have to vote as we aren't proposing a reduced payment to them as its a joint debt, likewise for a TAX Credit overpayment from the IR???
 
 

Michael Peoples

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Post by Michael Peoples » Fri Sep 11, 2009 2:48 pm
NR are entitled to vote as they are now having to agree to effectively transfer the liability from joint names to your husband's sole name. This would also apply to the tax credit overpayment. Any dividends received from the IVA will reduce the liabilities to these creditors meaning less that your husband has to pay back.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

HONNEYJ

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Post by HONNEYJ » Fri Sep 11, 2009 2:52 pm
Oh Michael I'm soo confused does that mean come of the IVA money would go to NR - its just my proposal includes a partners allowance to cover the repayment of the loan!
 
 

HONNEYJ

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Post by HONNEYJ » Fri Sep 11, 2009 2:53 pm
aggghhh - Less than 1 hour until my fate is decided and i will know the outcome in 1 hr 17 minutes!!!
 
 

Michael Peoples

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Post by Michael Peoples » Fri Sep 11, 2009 3:01 pm
I assume NRs debt was included for dividend calculation so they will receive a payment like any other creditor. This will reduce the balance and the length of time your husband will spend repaying the debt.

There will have been an allowance made for the contractual payments to be maintained as your husband must be able to afford them, but NR will still be entitled to a dividend.

It may be that your IP has drafted the proposal differently but that is how we would do it.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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