and the good news is, it has been accepted!!

[ivoriva]

Hi All

I have been reading this forum a lot since I applied for an IVA in late January this year. It has been a long wait, but my creditors meeting is set for 3.30pm today. So fingers crossed it will go ok, I have managed not to think much about it but I am finally getting a bit nervous - and excited in hope of a positive outcome!

I went through CCCS and they passed my case to Grant Thornton who seem to have a good reputation so I am fairly confident.

The worse bit for sure has been dealing with all the calls from creditors, but they have gradually dried up and I havent had one for over a week now! Its been bliss...

HFC have definately been the hardest creditor to deal with. Lots of phone calls from them going through the exact same thing again and again. And lots of odd letters, once there was just one line saying call 0870 etc etc now, and thats it. Then another just yesterday saying if I pay 50% of my minimum payments on the monthly statement from now on they wont default me! Bizarre. I think I am in the fortunate situation no one creditor can fail the IVA alone, unless voter apathy sets in! But Im sure my IP will get as many positives to vote if thats needed.

Anyway, I will keep you posted how things go. Good luck to all in the same boat...

[aguise]

Hello and welcome. All the very best for today. Let us know how you get on.

Ang

[freelili]

Hello Ivor

very best of luck for today, I have HFC as a creditor too. It would be interesting for us all to know how your creditors voted and what creditors you have an the p/£.

Good luck

LILY

fly me beyond the distant star, I will wish on tonight to see you smile just once more to know youre there.

[Hunter1]

Best of luck for today.

I had MBNA and HSBC as creditors who were both awful but mine went through yesterday with no problems.

[ivoriva]

Hello - and thanks for all your replies - it helps to know others have managed to get their proposals accepted. Now only 25mins till my 3.30 time. Really nervous now!

My case is approx £66k of debt, mostly on CC and one loan. Majority is pretty much evenly spread across 4 creditors - hfc, egg, smile & bank of scotland, with another 5 minor players - barclays, lloyds, amex, A&L (mbna) & capital one. Have offered 42p/£ - monthly repayments of £623.

I shall let you know the news, hopefully within the next 2 hours!!

[Adam Davies]

Hi
Good luck !!!
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

[scaredkez]

hi ivoriva
hope it is all goig well and you get that acceptance.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[iva experts]

Hi ivoriva,

All the best for you!

Hope this information is of use

Regards. IVA Experts

[ivoriva]

Well, still no call but Im not suprised. What actually happens during this time anyway, I would of thought all voting is over by the time the meeting actually takes place! How long do you think I should wait before calling the IP? I'm now resorting to picking cat hairs out the carpet to keep myself occupied whilst I wait!

Ivaexpert - this site has been absolutely brilliant in providing all the information I have needed throughout the last 3 or so months. I really couldnt of done without it...

[aguise]

Ivor give them a ring and see whats happening. I was told my meeting was an hour and they would ring within 15 mins which they did, but as you say most probably sorted by now you can at least find out how its going. Fingers crossed.
Ang

[ivoriva]

Well, called them up a few mins ago. Basically said person who I needed to speak with wasnt at their desk and the said person would call me back and would go through the whole thing with me then! Hope that doesnt mean bad news, really worried now...

[ivoriva]

I finally got through to the IP around 5.30pm. He had some bad news, as KPMG wanted more. They want a statement of affairs to include my wife rather than just be based on my own affairs (though the IVA is still just in my name, they just want my wifes income and expenditure to be included in the proposal). Anyway, after talking to my wife and getting back to him with the details, the up shut is he reckons 50-51p/£ would be enough for KPMG to accept - putting my payment upto a a rather large £740. This is right at the top end of the scale for sure, but I have given it the all clear after my wife agreed that I was going to be paying somewhat less towards expenses than originally thought! He said he would get in touch with KPMG asap tommorow, and it should all go through after that. Only egg proposed another modification, to extend the agreement by 3 months to cover any 'slight but possible' beneficiary interest in the property! I will let you know how it goes tommorow.

[suzz]

hi sorry about the bad news but fingers and things crossed for tomorrow, can you tell me please who are KPMG.


Sue

[ivoriva]

I think they vote on behalf of a number of my creditors, so collectively they have a bigger say than if the creditors voted for themselves. Hence I need to meet their demands if my IVA is to go through. Im not sure which of my 9 they represent though - maybe someone could answer that? Fingers crossed for tommorow!

[aguise]

Ivor sorry to hear did not go so well hopefully will all be sorted tomorrow. Let us know how you get on.

Ang