IVA ACCEPTED TODAY OH MY GOD!

[iva experts]

Wow Sarah, well done that’s great news!!!!

I know that some forum members find shopping fortnightly can give quite a saving, also searching the catalogues for each supermarket to find the cheapest deals. Hope that helps [:D]

Best Regards. IVA Experts

[MelanieGiles]

Great news!

Did your creditors seek to increase your contributions at all?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Oliver]

Well done and all the best with everything in the future.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[sarah1975uk]

Great news!

Did your creditors seek to increase your contributions at all?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi Melanie


The original proposal was for £335 per month over the term of the iva when the original creditors meeting took place they wanted extra £150 pushing the payment to £485 which i simply couldnt afford so we compromised if they took the houses out of the picture and let me just pay into iva and that was it that i would offer them extra 50 per month they wanted 75 but stood my ground and now i just have to pay £380 per month only modifications now applicable are half of any extra salary (doesnt apply to me on flat rate with no overtime in my job) want me to cut up my credit card (no problem only has £200 limit anyway). All the way thorugh this i have stood my ground and said look yes i want to keep my house but i can do this by getting someone to buy beneficial interest upon bankruptcy. therefore they would have got nothing back for the debts. I think they realised this and backed down into accepting what i wanted within the iva. Proud i have delt with this and proud that i will be contributing to my debts even though only 47p in the £ Better than nothing i say! xx




Thank you for eveyone's help & Support xx

[MelanieGiles]

I am very interested that your creditors allowed you to remove your house from the equation, as this is almost unheard of these days. Could you let us know which creditors voted for your proposals, and do you know whether they voted themselves or via voting representatives. At a time when IVA protocol is under tight scrutiny regarding equity release, it is very suprising to see creditors agreeing to have the asset excluded.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[sarah1975uk]

Hi Melanie

Halifax and Hsbc i beleive voted via their representative. They were my major creditors and the other smaller creditors didnt vote.

Thank you for eveyone's help & Support xx

[aguise]

Great news Sarah, well done you [:D]
All the very best for the next five years.
My first 7 months have flown by and I am so glad you didnt give on the payments, that seems to be where others get the pressure and start to struggle. We are managing well though we do have overtime but we know we can manage without it should it go. We save the extra, that way we dont start to live on it, and pay the 50% over each month. Living on a budget is ok if you stick to your allowances for things , if there is a bit left over, then save it for any extra surprises. I shop where the best offers are do try the cheaper things, supermarket basics, if you dont like them then fair enough but if you do saves that bit, buy offers only if it replaces something else, not just for the sake of it. Shop when the sales are on.

Angx

[sarah1975uk]

Just transfered my iva payment to another account so i dont touch it cant wait to pay it now..never thought id look forward to paying a bill lol

Thank you for eveyone's help & Support xx

[Destiny]

I am very interested that your creditors allowed you to remove your house from the equation, as this is almost unheard of these days. Could you let us know which creditors voted for your proposals, and do you know whether they voted themselves or via voting representatives. At a time when IVA protocol is under tight scrutiny regarding equity release, it is very suprising to see creditors agreeing to have the asset excluded.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi my agreement was extended to six years to take into account any equity that may have arisen, is this not a normal practice? I didn't mind this as I didn't have the worry of thinking about remortgaging in years 3 or 4.

[MelanieGiles]

This can happen Destiny, although in my experience creditors are getting reluctant to exclude the asset even if the equity is to be paid over a sixth year.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[sarah1975uk]

During the negotiations they also wanted me to pay in for 6 years i said no.

Thank you for eveyone's help & Support xx

[poppy]

CONGRATULATIONS Sarah!!!

Here is to a fresh start, big party in 5 years time! xxx

[Adam Davies]

WOW Sarah,you have done so well and you should be proud of yourself.I think that you have convinced your creditors that you would go bankrupt if your IVA was not accepted on your terms and they have realised that your offer was far better than bankruptcy.
My advice is to put your contingency fund safely in another account each month until needed and to scrimp and scrape on expenditure and "reward"yourself every so often with a treat[meal out,takeaway etc].
You will be in such a good position in 5 years time.
well done,again
Regards

Andy Davie
IVA.co.uk Spokesperson

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

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

[BlueShoes]

Hello
I read with interest the part about not accepting paying for an additional year. (6 instead of 5) We are in the process of proposing our IVA, with little equity in our house and three young children. Maybe we need to speak with our IP if this is a possibility for us too. Our kids will be 14, 13 & 11 in six years-a hell of an expensive time!
Blue

[louiseh]

We have little equity in our property, no 4 year equity release clause, just pay for an additional 6 months ( 5 1/2 years total).