www.iva.co.uk

Hi

I am new here, but have been following all of your posts. Mine was approved today, after a 9 week process, I was so worried that the creditors would force me to go bankrupt because there was about 1% difference between that and the IVA and I would of lost my house.

Anyway what I am really pleased about is that the only creditor that voted against was FLM, I owe them the smallest amount, in fact I am a guarantor on a loan for an ex friend of mine who went bankrupt in June. They have been threatening court action, attachment of earnings, charging orders, bailiffs the lot since June, I offered a payment plan but they refused, I was advised to stop token payments this week until my creditors meeting and when I informed them they said they were not interested and to give them my bank details straight away or face court.

Payplan were brilliant, the chairman said to me today that FLM should of taken up my offer because they are now receiving the smallest payment. I have been making token payments to them via paypoint because they are notorious for taking more than they should do out of your bank account, but this still did not satisfy them. One question I forgot to ask, can a creditor 'contest' the decision and still take me to court, as I can just see them trying to do this?

So 1st payment done today, feels good to finally start paying my debt back!!

Hi darceydoo and HUGE congrats!! What a relief it must be for you!!

Once the IVA has been approved its a legal agreement and your creditors are bound by it.

Hi welcome to the forum and you're now fully protected by your IVA against your creditors. I hope your journey to debt freedom is a smooth one for you x

Hi darcydoo and welcome.

Congratulations on your acceptance from me as well.

Keep posting so that we know how you are getting on.

Welcome to the forum Darceydoo and congratulations on getting your IVA approved.

As Julie says...ALL creditors are bound by the decision.

Good luck for the future.

Hi guys i have been reading up on all your info. We are working with payplan too just waiting for our creditiors meeting now!! Congratulations to you, i hope we get the same result!!

Hi Mitchymoo and welcome to the forum.

Hope everything goes ok. I'm with Payplan and had no problems so far. Let us know when your meeting is.

Thanks Jan!! Will do, we are a little unsure to how much div % needs to be for a accept?? Im sure payplan know what they are doing tho!! Fingers crossed we can start the first steps along our new path in life!! [:)]

Payplan are pretty good, we've had no problems with them.

congratulations on getting yourself on the road to recovery (financially speaking)