www.iva.co.uk

Hia. My creditors meeting was on Friday 4th January. Everyone was submitting Postal Votes.

Swift Credit refused my IVA proposal, but thankfully, Lloyds TSB - my biggest creditor approved it. No-one else has voted so far. So keeping my fingers crossed that no-one else does. As it stands, it should be approved.

I owe Lloyds TSB £12000, Swift Credit £1500, Thames Credit £1500, Lloyds TSB Credit Card £6000 and finally Littlewoods £2150.

I am offering 26p/£ over 5 years. Littlewoods however will not stop hassling me on the phone, I have told them that my account is in the hands of an IP and that I can't afford to make any payments until the IVA has been arranged..

Argggghhh. My IP is Gareth Neill with Grant Thornton.

Hi
Well your IVA has been approved then !!
Creditors have to vote on the actual day,unless it is adjourned by your IP for 14 days but this has not happened in your case
What have GT said to you ?

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Sadly no, it's not been approved. Lloyds didn't get their paperwork to Grant Thornton on time, but GT phoned them on Friday and had a verbal confirmation that they had accepted my proposal. Unfortuntely GT have had to postpone for 14 days in order for Lloyds paperwork to arrive. So am still stressed.

Been trying to work out whom needs to agree in total to get it approved.

Hi
You need a yes from 75% of debt held that vote on the day.If they are still the only one to vote then it will be accepted,you would need NO votes from 4k of debts for it not to be accepted and I would doubt that Littlewoods will vote.This would leave only Lloyds credit cards to scupper your IVA and this would be doubtful given that their sister company have voted yes.
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

So, would I be right in saying that GT now have to wait the 14 days, even if Lloyds "YES" vote comes in before the 14 days are up, or can they close it early so to speak.. Just extremely tired now, having dug myself out of debt 6 years ago, and now thanks to my ex, am firmly back into it and want it all over.

Littlewoods keep calling me, would it be best to ignore them now, I don't want to remind them that I am setting up an IVA and have them vote if they would say "NO". - Does that make sense?

Sorry, just to also say, as far as I can see, on the list of Unsecured Creditors on my IVA proposal, Lloyds TSB credit card and Loan is all coming from the same address, though granted different account numbers. This suggests to me that Lloyds agreeing to my IVA means all aspects of my Lloyds debt. What do you think?

I always say don't count your chickens in these circumstances, but if that Lloyds vote arrives in the next couple of days, the IP should not need to adjourn any further.

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

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http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

I know, I shouldn't count my chickens too soon. I am just trying to find some way to relieve the stress. As I said earlier, am finding things really hard - constantly tired, fed up of feeling sick every time the phone rings or I get post.

GT not very good at communicating either - trying to get any information out of them is impossible.So that only makes me worry more.

Hi there
i hope you hear something very soon as this sounds like a very stressful situation to be in.
Try and stay relaxed and explain your worries and stress to GT and do not be fobbed off
Good luck and I hope its all resolved for you soon
Emma