Creditors meeting booked , nervous

Get expert opinion. This is the place for new questions to be posted.
16 posts Page 1 of 2

Deptgone

Posts: 7
Joined: Wed Jan 12, 2022 9:47 pm

Post by Deptgone » Wed Jan 12, 2022 9:57 pm
Hi all

Been reading lot of posts on here and finally registered,

My creditors meeting is on the 26th , around £15000 dept over 10 creditors with O2 Telefonica being the greatest £4980

Proposal was sent offering just over 13p/£ , seems very little and very nervous it won't get through :?

Does anyone have experience with having mobile providers or more so O2 in there IVA agreement , my PayPlan nominee seemed to think they would not be an issue. It I can't find anything online mentioning it.

Thanks everyone , you've already helped me find the courage to sort myself out just from reading stuff on here

Cheers

kallis3

User avatar
Forum Expert
Posts: 77060
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Wed Jan 12, 2022 10:01 pm
Glad you found us and hope we can help see you through this

Your IP would not put your offer forward if they didn't think it would be accepted. I personally have no knowledge of how O2 vote. Yours isn't the lowest offer made.

Good luck for the 26th.
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

Deptgone

Posts: 7
Joined: Wed Jan 12, 2022 9:47 pm

Post by Deptgone » Wed Jan 12, 2022 11:18 pm
Thanks for the reply kallis3

Does PayPlan have a good rep with you guys on here

luluj

User avatar
Forum Expert
Posts: 11332
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Thu Jan 13, 2022 4:12 am
Payplan are widely used by forum members and like all providers you need to work with them, keep them informed of changes and comply to the iva conditions once approved.

An iva is not an easy solution, but done right, is life changing and provides you with a fresh start in life.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

kallis3

User avatar
Forum Expert
Posts: 77060
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Thu Jan 13, 2022 8:26 am
My IP was Payplan and I had no problems at all with them. Mine was a long time ago though so don't know if things have altered much. I did like the fact that they added the online accounts so you could email your case worker and check to see how things were going. I assume they still have that.
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

Deptgone

Posts: 7
Joined: Wed Jan 12, 2022 9:47 pm

Post by Deptgone » Thu Jan 13, 2022 9:36 am
Yer I have email contact with Charlotte but not the actual IP ,

Fingers and toes all crossed , just want the 26th to arrive!

Deptgone

Posts: 7
Joined: Wed Jan 12, 2022 9:47 pm

Post by Deptgone » Thu Jan 13, 2022 9:40 am
From I can work out O2 need to say yes as they are around 32% of the total £15566 am I correct ? Because the rest of the creditors wouldn't make the 75% ?

If O2 didn't vote but the rest did would it still get accepted?

kallis3

User avatar
Forum Expert
Posts: 77060
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Thu Jan 13, 2022 11:24 am
You need 75% by value of the creditors who vote on the day. If O2 do not vote then it will go through and they are covered anyway.
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

Deptgone

Posts: 7
Joined: Wed Jan 12, 2022 9:47 pm

Post by Deptgone » Tue Jan 25, 2022 12:08 am
1 day to go , it's Been a long couple of weeks!

If it goes through it will be a massive relief🤞

If the worst happens and it is rejected, are there any other options that aren't bankruptcy ?

Trying to think positive but it's very hard

luluj

User avatar
Forum Expert
Posts: 11332
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Tue Jan 25, 2022 4:54 am
Positive thoughts for you tomorrow. I'm hopeful you will be celebrating 🍾

Your IP should work with you if necessary to consider best steps if initial proposal not accepted. There are options including a new/amended proposal; bankruptcy is last option.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

kallis3

User avatar
Forum Expert
Posts: 77060
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Jan 25, 2022 9:07 am
Good luck for tomorrow - let us know how it goes.
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

Deptgone

Posts: 7
Joined: Wed Jan 12, 2022 9:47 pm

Post by Deptgone » Wed Jan 26, 2022 4:38 pm
Approved!!!

Only modifications were to do with IP fees ,

Feeling of massive relief , here's to a dept free future,

Thanks for all the information on here

Foggy

User avatar
Posts: 33346
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Wed Jan 26, 2022 5:10 pm
Welcome to your journey :) Remember that communication is key and that there is always someone here, or, indeed, on similar forums, that will listen and share their experiences.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

User avatar
Forum Expert
Posts: 77060
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Wed Jan 26, 2022 5:20 pm
Fantastic news - really pleased for you. We're always here if you need anymore advice during your journey.
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

Deptgone

Posts: 7
Joined: Wed Jan 12, 2022 9:47 pm

Post by Deptgone » Wed Jan 26, 2022 7:47 pm
Thanks guys , you've already been a great help,

If I need help in the next 5 years I know where to go
16 posts Page 1 of 2
Return to “Ask IVA Forum and Industry experts”