Hi, I'm in the process of starting my IVA.
I have about 16000 debt and I am offering 100 a month. I'm not sure if this is a decent amount or not but it's all I have avaiable at the moment. I'm self employed and have no assets to speak of.
Any way my meeting of Creditors was this morning at 10.45 and I hadn't heard anything all day. I read on the forum that creditfix(who I'm with) is not the greatest company for communications so I just bit the bullet and contacted them through there online chat.
I've been told that the IP is still negotiating with my creditors at the moment.
I just really wandered if this is something I should worry about? I understood that I should have had a result not long after the meeting was held. Any way thanks for your time.
This seems to be commonplace with Creditfix ---- for some reason they always get into a negotiation. I suspect it has something to do with their presentation deviating from the accepted and agreed norm or inflated fees ---- they have had numerous issues with this before. However, at least from the instances reported on this forum, they do seem to come good in the end.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks for the response foggy. Yes that would make sense going on what else I have read on the forum. Makes me feel a little better at least. If I do t hear anything today the. I will contact them again this evening.
I spoke to creditfix today and they have told me that Mbna had rejected the proposal (they form 40 percent of my debts) but strangely, according to my ip, they have not stated why. He said he has adjourned the case until Tuesday 23rd of April.
Very disappointed going into the Easter weekend to be honest. Had hoped to get it sorted before it.
If you have no assets and with that amount of debt you could consider BR.
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, yes I've I get mucked around by my creditors at all I have been thinking it is probably an option that I will consider. I am self employed and looked at bankruptcy as a last resort.
With some juggling you might even swing a DRO, if you have no assets, only a cheap vehicle (of the banger variety) and can get disposable income down enough. Worth an explortory chat with a DRO intermediary. https://www.citizensadvice.org.uk/debt- ... ef-orders/
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
As a final update to this (incase anyone else has the same problem) - I finally got my IVA accepted today. I think it's been 14 days since my original creditors meeting. It had been adjourned 4 times. My understanding is that the standoff was about Creditfix's fees. I'm not sure how this was resolved because I was just happy for it to be accepted but I'm guessing I will find out when they send me the paperwork.
Mbna were the main ones who rejected and insisted on a stipulation that either I would improve the income of my business or seek full time employment. I'm not sure how this will work in practice but my iva was based on my last filed tax return which I think is 2017-2018 and I already know that 2018-2019 will be an improvement.
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
Well done. Yes, Creditfix have some issues every time, it seems, and no-one can really pin it down. I believe that their fees are amongst the highest and, it would seem, are not popular with creditors. They are also rumoured to wanting to stray from accepted formats and procedures, which has been the cause of some horrendous delays of late.
But, hey, you got there !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
