Page 1 of 2
Posted: Wed Feb 03, 2016 11:09 pm
by wmichnia
Hi. Did anyone dealt with the shawbrook under the IVA?
Posted: Thu Feb 04, 2016 8:33 am
by kallis3
Sorry, not heard of them.
Posted: Thu Feb 04, 2016 9:02 am
by lifenoteasy
Select Partnership use/d Shawbrook Bank to provide secured loans as people come towards the end of their IVA and instead of equity release.
See
https://www.mortgagestrategy.co.uk/shaw ... ured-loan/
Posted: Thu Feb 04, 2016 10:08 am
by wmichnia
Thank you lifenoteasy for reply. Are they ok with accepting an IVA?
Posted: Thu Feb 04, 2016 10:14 am
by lifenoteasy
Not sure what you are asking - if your IVA company is pointing you down the secure loan route rather than equity release then it is likely they will help.
If you are saying can you apply to them directly to get you out of an IVA the answer is I do not know.
Posted: Thu Feb 04, 2016 10:42 am
by kallis3
The OP hasn't had a creditor meeting yet.
Posted: Thu Feb 04, 2016 12:07 pm
by Lisa Thomas
If it is one and the same then they are probably secured and won't be voting on the IVA proceedings...
Posted: Thu Feb 04, 2016 1:49 pm
by wmichnia
Hi Lisa Thomas. Thank you for joining my thread. I have got unsecured loan with shawbrook for solar panels and it is #163;10000. My IP had no experience with them that why I'm worrying about.
Posted: Thu Feb 04, 2016 2:56 pm
by Lisa Thomas
Hi - I see. Please try not to stress. The difficulty is, even if your IP did have experience with them, s/he still couldn't give you a guarantee whether and how they would vote. At the end of the day your Nominee would not be recommended the IVA proposal to creditors if they did not think it should be seriously considered.
Are they the biggest creditor? (over 75% in value of your total debts?)
Posted: Thu Feb 04, 2016 4:57 pm
by wmichnia
They are just under 25% which as far as I know is good. The other thing is that I've got overseas creditor which is another 20%. Its bnp paribas and IP had no experience with them as well.
Posted: Thu Feb 04, 2016 5:00 pm
by wmichnia
Lisa Thomas just wondering what is more or less IVA acceptance rate at the moment?
Posted: Thu Feb 04, 2016 5:07 pm
by Lisa Thomas
Every IVA is unique - there is no average.
75% in VALUE of your creditors VOTING have to approve your IVA for it to go through so the results might not be known until the day.
Posted: Thu Feb 04, 2016 5:27 pm
by wmichnia
Have you ever dealt with the overseas creditors under an IVA?
Posted: Fri Feb 05, 2016 9:17 am
by Lisa Thomas
Yes - some take an interest, some don't. Some don't understand it because of the language barrier and unknown processes compared to their own insolvency laws.
Posted: Fri Feb 05, 2016 7:04 pm
by wmichnia
What we can expect if that is the case? I mean if they don't know what is all about. Are they likely to do not vote at all or refuse the proposal?