IVA approved with mods

[scaredkez]

650 per month is what the or has allowed me, but then again i have now been discharged, as of 25.09.07. free as so to speak.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[MelanieGiles]

That is a very generous allowance. Did you flutter your eyelashes at the examiner at your meeting!!!!

Can't believe you are discharged so soon - time really have flown this year. But I know you have the grim task of house sale yet to face, and hope that you will soon be able to put all of this behind you once and for all. How is your niece getting on by the way, it is a while since we had an update (unless I missed it when I was on hols!)

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

[scaredkez]

no i wished i had the lashes to flutter, he told me with 3 kids who was i kidding to live on what i had put down and changed it, never expected ED but both of us got it, have the letter here signed and sealed by the court,can't believe it myself, very lucky girl, niece well good news this week she has been awarded the council house near her mums, what with everything over the last few weeks we all need a bit of something, i came home after funeral to find we were discharged she came home to find a new home, just hope she never takes hubby back,

melanie dont get me wrong this has been the worst year of my life, since last xmas and i always try to make light, i would never wish this on my worst enemy, we have come ok the other side, yes the house is yet to be dealt with but what i have been through the last year that is nothing,BR is no not easy and not something i would like to portray as easy, its a huge step, you know it was for me, but it is now over and i can live again , i just hope 2008 treats me a bit kinder

hope you enjoyed your hols
regards
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[Rainbow]

Hi Kerri

So pleased to hear the good news about your Niece, one way even if she does take hubby back (It does happen) of her protecting her house is never to allow him to be put on the tenancy she then can ask him to leave (Lets hope it never comes to that, but just something to bear in the back of her mind) and also your good news about being discharged - I too really hope that 2008 is a whole new start for you. Sending you all positive thoughts and best wishes
Rainbow x

[tracy.h]

Hi Hope you get some better news today.

Tracy

[rainbow210801]

Just got off the phone to GT, TIX won't negotiate at all and are aware that they have the majority vote, we've agreed to the £40 additional as our only other option is BR and if that happens, I'll lose my job as well as house!

We're under no illusions, it will be very tough but we wil have to do it. GT did say that they would keep a note on file so that if/when our income increases they would consider the additional £40 that we're paying already before they ask for any more. Guess we need to get payrise pronto!!

[lily]

Hi Rainbow

I hope you make it soon too, the payrise, I think its so stupid to cut you to the quick like this. I guess they know they have got you by the proverbials. (job and house, phew you must have been really suffering with this!!!) I was really under the impression that our expenditure was down to us to dictate to them and only if we had allowed ourselves a luxuries or unecassary expenditure were they allowed to ask for more, whats 40 quid to them??? I am glad its sorted for you, although its going to be tough I am hoping you will make it.

Tonight sleep, yes???

lily

[tracy.h]

H i rainbow
Glad you have had iva excepted i just hope you will manage to service the contractual payments.
I understand your reasons totaly and really do wish you well for the future.
I hope you will continue to post and let everyone know how you are doing.
Good luck

Tracy

[rainbow210801]

thanks both, I didn't realise until the last couple of days just how supportive this forum and its members are, it really is a lifeline!!

We should get the Chairman's report by saturday, once we do we'll post full details as to who voted and what they said.

[MelanieGiles]

Unfortunately, requests for payment increases seem to be the norm these days, and have to be expected. It seems that whatever is put into an IVA proposal, a number of creditors seem to think that it is good practice to demand an increases - and often when my staff ring them to see where they feel savings can be made they have no idea - they just want more money.

Mark my words, experience tells me that this will lead to a greater IVA failure rate in the future, and guess who will be blamed. Yes, the poor old IP will probably get a bashing again!

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

[catullus]

Melanie

TIX seem to be getting a little frisky in this area in the last couple of weeks which is strange since we hadn't had a single vote against or mod on contributions until about 10 days ago.

The cynic in me tells me that they were bedding us down before the next onslaught on the I&E's. I hope I'm wrong.

And can someone tell GT to stop sending in 142 mods on every proposal. They should know better.

[MelanieGiles]

I am speaking to both companies at the moment, as the number of modifications in Chairman's reports is getting ridiculous. For an industry which is supposed to be working together to find a consistent IVA proposal, we have gone two steps forward and six backwards - and most of my (reduced) nominee's fee is being spent on typing up the Chairman's reports!

The thing that I find most irritating about having client's income and expenditure summaries attacked is that we put in a lot of effort to identify how clients spend their money, and present this accordingly, knowing that if they were to declare themselves bankrupt, the DTI would allow them far generous expenditure allowances, and allow them to keep up to 50% of their surplus income on top of that.

I doubt that the majority of lenders have much to say about this, as they are probably not aware of specific Income Payments Order decisions made by the OR's staff, but we have a very inconsistent industry at present and it needs to be sorted out soon.

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

[R1chard]

i got told my max food expendature is £180.00 for me and my son? so i guess two adults two kids should be £360.00?

58 PAYMENTS TO GO..

[Adam Davies]

Hi
I'll agree with you totally Melanie.
Allowances in BK and IVA's seem to be miles apart.
The danger of TIX or any other creditor in squeezing expenditure is not only the obvious risk of the IVA failing but the risk of IPs feeling that they will have to build in extra expenditure because they know that it will be cut.This would be no good for anyone.
Surely TIX/creditors should respect the IP that has proposed the I+E
has done it correctly.
A reduction of £40 per month and hence £40 per month extra into the IVA is irrelevent if the IVA fails.
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