What happens if my creditors refuse the plan

[ken.w]

I am currently started towards an IVA, and due to go to court on 18-Aug
Q1 What happens if my creditors refuse the plan
Q2 One of my creditors got quite nasty when I mentioned IVA (they said they won't see a penny of my balance for 12 month it all goes to the courts)

[kallis3]

Hi Ken,

I am sure that everything will go ok on the 18th, if your IP didn't think you had a good chance, it wouldn't be being put forward.

1. If they refuse, you can always do a Debt Management Plan, or go bankrupt.

2. Your creditor was just trying to scare you. Just remember that these are people in call centres. They have no control over the meeting.

[ken.w]

Thanks for the reassurrance,
Its just that we were advised for debt management first by the same firm,
Everything was sent up and we are still getting acceptance from creditors,
paid a large sum up front, then contact by same firm and told IVA the way to go they took £100 out for the work done on DM then left the remainder towards our expected IVA payment
ken.w
[V]

[ken.w]

Thanks Kallis3

[debtmountain]

Hi Ken,[:D]

Just wanted to welcome you to the forum, Cannot offer any advice I'm afraid as still in process myself of trying to arrange getting IVA approved. I do understand about the Creditors though, just had a call from a really nice woman (NOT[:(]) insisting that I made a payment over the phone to clear all the arrears.

Good Luck for the 18th and please keep posting to let us all know how you get on.

xx

[moretolife]

hi ken,,can i add my welcome...you will get lots of advice and support on here

good luck for 18th

[Viki.W]

Hey Ken, a big welcome to the forum from me too.[:)] I agree with Kallis, they are just trying to get a payment from you. They won't be the ones who vote for or against your IVA. Good luck, keep posting. X

[Abby]

hi ken
in safe hands here, best thing i did was to post here ,the advice they gives you and knowing you are not on your own makes life a bit easier.x

[ken.w]

[:D]
Hi Thanks to you all for taking the time to respond, Its nice to know not alone in this big world of pressure people,
Yes I know its mostly my fault and none of you have said that
I know its not nice to lend then not get all you EXPECT back
Cheers to you all
xx

[MelanieGiles]

I am sure that your IP would not be putting forward an IVA that they did not feel was worthy or would be accepted by creditors - so have faith in that fact and good luck when the big day arrives.

[Soulgrowth]

Hi Ken ... just wanted to welcome you also.

You are doing the right thing.

Debbie