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Posted: Wed Jan 02, 2008 11:26 pm
by john.j
my creditors meeting was this morning.got answer back this afternoon with mods creditors want me to re mortgage in year 4 if i dont they wont vote.Could i decline and carry on paying for another year after 5yrs or is that not a choice.cheers
Posted: Wed Jan 02, 2008 11:33 pm
by MelanieGiles
Unlikely to be an option these days, and I am surprised that the proposal was put forward without addressing the equity. This is a pretty common term these days, and actually part of the industry accepted protocol recently adopted by creditors and their representatives.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp