My creditors meeting was yesterday at 3pm. I phoned at 4.30pm as they said it would only take approx 25 mins then they would phone me directly afterwards, which they never. Anyway outcome was it has been adjourned until today at 3pm because of 1 creditor.
I thought you only needed 75% value of approval to get a yes, so dont understand why it has to go ahead again today !!
You aren't with Creditfix by any chance, are you ? This seems to be their usual mode of operation ..... there are several possibilities as to why. They could be seeking a further "yes" vote to swing the result or, this creditor has claimed not to have had enough time or received incomplete information.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
No not with creditfix, i am with payplan. I was on a DMP with stepchange but the interest was just mounting and i thought this is never going to end, so sought other avenues. I just want to see an end like everyone else on here.
It could be that this creditor has a big enough amount to swing the vote one way or the other, hopefully it will go ok later.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Some creditors ask for more information before they make a decision and if they are more than 25% of the vote the IP has no option other than to adjourn and provide whatever is requested. This can be frustrating especially if the request is last minute but your IP should keep you entirely in the loop as to what is going on and why.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi all,Just to let you know my IVA has been approved. I have to pay 72 months instead of 60 so i dont have to re-mortgage house. I feel so relieved but also scared as i know i can't miss a month, and we just don't know what the future holds work and health wise. But fingers crossed in 72 months i will be 62 years old but debt free.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Good news. Make doubly sure that the extension is in lieu of equity and that the Chairman's Report (when you get a copy) categorically states that the house is an excluded asset.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
