www.iva.co.uk

Hi evryone, This is my 1st post on here, I have been reading through loads of your posts and I am so impressed !

My husband has just received his IVA pack from CCCS. All is well and he has his next time to act appointment on wednesday. Im sooo nervous that the creditors wont agree to it though and Im not sleeping, cccs said they have a 96% pass rate and she thinks we have a good case as he will be making a monthly payment of £439. I was just wondering, from wed when he agrees to do this and we send the signed declaration back, how long does it usually take for the creditors to have their meeting? and should he just continue to make token payments to the various creditors until he knows if hes accepted?

Thanks in advance. Chelle

Hi there and welcome to the forum

Each IP firm has its own timescales - in my practice I have done IVAs in 24 hours and had some which have taken over a year to work through. It really depends upon the timescale for providing documents to the IP and their own workload.

A 96% acceptance rate is not bad - some firms are higher than that - but at the end of the day it is all about whether your case will be carefully tailored by the insolvency practitioner herself to ensure that you can afford the payments both now and into the future. Don't be rushed into something for the sake of it and make sure that everything is clearly explained to your husband before anything is signed.

Hi
It will probably take another 4-8 weeks to have the IVA accepted, just depends at what stage your husband is at.
Take advice directly from CCCS regarding token payments.
Good luck with your proposal
Regards

Hi 5by5 and welcome to the forum.

We have just entered into an IVA with Melanie Giles, and from start to finish its taken about 15 weeks. This is irrelevant to us, as the outcome was a resounding yes from our creditors, and this was wholly due to the work carried out by our chosen IP, and their staff.

As mentioned, the time from initial call to IP to creditors meeting will vary greatly.
We decided to make no payments to our creditors during this process.

Gd luck.

I am with Cleardebt and it took just under 6 weeks from first contact i.e discussing my details and situation right through to IVA acceptance, alot quick than i thought it would be.

I am with Freeman jones and it took about 4 weeks from phone call to creditors meeting it seemed very quick

Mine took a few weeks but I had to source a remortgage to free up some disposable income, I'm with Melanie and her team and they are very thorough. I didn't pay my creditors whilst waiting for the IVA to happen and accumulated some contingency which was swallowed up in the first month due to the boiler packing in! x

Hi were with payplan and our process took 4-6weeks. It will seem like a lifetime till the meeting date but will all be worth it when all accepted. Good luck x

We're with Payplan and ours took about 8 weeks.

We didn't make any payments to the creditors either.