Creditors Good/Bad

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debbiw

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Post by debbiw » Wed Oct 31, 2007 3:49 pm
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Hiya

Does anyone have any info on creditors, and which way they would normally vote. Have any got bad reputations regarding IVA's?
My creditors include MBNA, Cahoot, Barclays, Egg, Argos, Amex, Capital One.
Anyone any info?
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MelanieGiles

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Post by MelanieGiles » Wed Oct 31, 2007 4:07 pm
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Most of those on the list are generally supportive, so long as you are seen to be putting your best offer on the table. AMEX have a policy of rejection if you are a property owner - they would rather take their chances with a charging order in order to secure their interest.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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debbiw

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Post by debbiw » Wed Oct 31, 2007 4:15 pm
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Hi Melanie
Whats a charging order?
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MelanieGiles

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Post by MelanieGiles » Wed Oct 31, 2007 5:26 pm
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Just like another secured loan over your property. The creditor makes application to Court, and if successful their debt becomes secured behind your mortgage company, and you will need to then make ongoing payments to them to avoid an Order for Sale.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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