2nd Varition Meeting Called. Hi, I have posted a few times and as I briefly desctibe my situation, you may recall it is unusual. I am in an IVA at month 47, 13 months to go, I pay 500GBP per month and am up to date. My creditors made a 4th year modification at the start of the VA which said I am o obtain 2 ofers of remorgage, which ever offers the greater amount, the debtors share should be paid in and Payment can then cease in order to accomadate an increase in mortage repayments. I have done all I can and have found a mortgage which offers 2000 net. however, I was advised to call a variation meeting whereby I suggested rather than remortage, I offer a full and final of 7000 from a third party. This was rejected on the basis that creditors would get more from a sum of 2000 remortgage, and the continued repayments. My IP therefore called another variation meeting for next week. I have found ou the the major creditor has rejected this. Where do I stand now, and what ultimately is the worst possible outcome for me. I am concerend that because the modification favoured me and thar creditors were going to get far less than originally proposed, they are trying to relinquish there modification. I smell a rat and am not happy. hope you can help.
