Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I have just emailed an official letter to my IP offering the full and final amount and requesting that this offer is put forward to my creditors. I'll wait and see if I get a response to that one!
I just spoke to my IVA company and have forwarded the email correspondence to someone else so I will await a response! I'll keep you all posted. Trying to stay positive. If you don't ask, you don't get and if I don't ask I'll never know!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Thanks everyone! How long do you think I'll have to wait before I get a reply? I asked them to put the offer forward and attached a letter from myself confirming this. Do they have to put it forward or can my IP refuse? Sorry for all the questions but it's all I think about these days!
They will put it forward and you should hear from them that they have - give them 10 days and ask them when will they be circularising your crediors with the offer.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Well...I got an email after sending my full and final letter to my IP asking for a letter from my partner to say he'd agreed to gift me the offer money and they'd asked for a copy of his driving license or passport. Sent it all back on Friday 15th May so now I guess it's just a case of waiting for them to convene a creditors meeting? How long do you think that will take?
I had a meeting set up regarding the 6 month extension my IP had proposed but they have since written to me saying that this has been cancelled. I take it that this is because they need to set up another for the full and final offer?
I'm keeping everything crossed! I really hope this comes off!
75% of the amount of money that votes must be in favour. Therefore your largest creditors have the say and quite often the smaller ones do not vote as they do not have any sway. However, one small creditor voting in favour and the others not voting is an acceptance to your proposal so even the small ones are canvassed for votes.
Thanks Michael....Offer put forward and acknowledged by my IP, backup letter from my partner confirming he is gifting me the money for the offer (as requested by IP) sent 15th May....Creditors meeting originally set up for 21st May regarding the six month payment break has now been cancelled...(not sure why? Any ideas?)...Just got to wait and see WHEN and indeed IF the offer is accepted!! Hopefully it won't take forever to get an answer??!!!
Best of luck Vickilou. The reason the payment break variation is being cancelled is that your full and final offer is being prepared. It will likely state that if rejected creditors will have to give a payment break which is why the IP is recommending it. You should be fine.
