I’ve spent the weekend absolutely sick to my stomach with worry. I owe £27000, and I’m 8 months into an IVA where I pay £110 a month. I’m a single mum to three children, the youngest being 1. My parents have found out about the IVA and offered to pay the full amount over the 5 years as a F&F. I’ve had 4 meetings which have all been adjourned due to paperwork issues (Credit Fix). The latest meeting one creditor rejected it due to not receiving enough dividend. I’m not so so worried that the other creditors will reject too. I really want out of this IVA as my life is on hold and I want to move forward for me and the children. Please someone give me some hope!
I would imagine the one that rejected also voted against the IVA in the first place and is just having another go! They were out voted then and CF are working to get them out voted again ( all guesswork on my part).
By accepting a F&F now, for the full amount they would have got over the next few years anyway, they are saving a chunk in administrations fees, so would be far better off saying yes now. To be frank, if any reject they are just being bloody minded!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Nikl wrote:Is there anyway I would be able to find out if they voted no for the IVA? Thank you for your response, just having a glimmer of hope is a massive help
Those that voted and the way they voted should be listed in the Chairman's Report of the initial meeting. You should have been sent a copy soon after the first creditors meeting.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I’ve just looked through and only £7000 creditors worth of the £27000 debt actually voted at the original meeting. This whole process has been so confusing
