Creditor's meeting - IVA agreed

14 posts Page 1 of 1
Post Reply
 
 

Lola

User avatar
Posts: 31
Joined: Fri Apr 18, 2008 4:24 pm
Location: United Kingdom
Post by Lola » Thu May 01, 2008 2:32 pm
Quote
Hello!

We had our creditor's meeting today and our individual IVA's were approved.

We proposed a monthly payment of £664 (Him: £432 and Mine: £232). This would mean my husband's creditor's would get 77p in the £ and mine would get 100p in the £.

Here's how they voted.

Husband's:
Barclayloan £7,250 - YES
Next £800 - YES
Capital One £1,000 - YES
Egg loan - £3,000 YES
Barclaycard - £5,825 - Didn't vote
Mint - £5,500 - Didn't vote
Grattan - £600 - Didn't vote
HSBC - £250- Didn't vote

Mine
HSBC - £4,416 - YES
Hsbc loan - £5,000 - YES
Next - £1,000 - YES
Egg - £640 - didn't vote.

Hsbc replied at the last minute and asked for my contribution (£232 a month) to increase by £10 a month.

I agreed just to make sure it was all out of the way, as the husband flies to Afghan soon.

Our first payment goes out on June 1. Our IP were really great and have even let us take this month as a breather and start payments on our next pay packet.

We now have five years to go to be debt free. Roll on June 2013.
Top
 
 

sblack

User avatar
Posts: 304
Joined: Mon Jan 07, 2008 2:12 pm
Location:
Post by sblack » Thu May 01, 2008 2:34 pm
Quote
Hi Lola,
Great news for you both,
Congratulations
"Life is too short to wake up in the morning with regrets. So love the people who treat you right, forget about the ones who don’t and believe that everything happens for a reason. If you get a chance, take it. If it changes your life, let it. Nobody said that it’d be easy, they just promised it would be worth it."
Top
 
 

animaleyes76

User avatar
Posts: 1207
Joined: Mon Apr 07, 2008 11:35 pm
Location: Czech Republic
Post by animaleyes76 » Thu May 01, 2008 2:36 pm
Quote
Hi Lola,

welcome to the forum and congratulations
:o)
Top
 
 

kallis3

User avatar
Forum Expert
Posts: 77175
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom
Post by kallis3 » Thu May 01, 2008 2:37 pm
Quote
So pleased for you Lola.

Welcome to the forum
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
Top
 
 

Lola

User avatar
Posts: 31
Joined: Fri Apr 18, 2008 4:24 pm
Location: United Kingdom
Post by Lola » Thu May 01, 2008 2:38 pm
Quote
Thank you!

we're determined that we will never get in this mess again. And our goal now is to buy a house in seven years time.

That thought is motivating me more than anything.

I'm even thinking of ways not to spend (which is a new one for me!) in order to save as much as we can to achieve that goal!
Top
 
 

Lola

User avatar
Posts: 31
Joined: Fri Apr 18, 2008 4:24 pm
Location: United Kingdom
Post by Lola » Thu May 01, 2008 2:40 pm
Quote
I forgot to mention that from initial consulation to creditor's meeting has been four weeks to the day.

I would really recommend going straight to a local IP rather than through a company, who then refers you onto an IP.
Top
 
 

angela18

User avatar
Posts: 2668
Joined: Wed Feb 06, 2008 6:04 pm
Location: United Kingdom
Post by angela18 » Thu May 01, 2008 2:48 pm
Quote
brilliant news lola.. bet you're relieved
Ang.. 13 payments in.. WOW, thats over 20% paid!! http://angela18.blogs.iva.co.uk/ well here we go

if you wish for a rainbow... then you have to put up with the rain xx
Top
 
 

Oliver

User avatar
Posts: 1854
Joined: Sun Sep 11, 2005 12:15 pm
Location:
Post by Oliver » Thu May 01, 2008 2:49 pm
Quote
Excellent news. Well done and all the best with eveything in the future.
Best Regards
Oliver
Top
 
 

Lola

User avatar
Posts: 31
Joined: Fri Apr 18, 2008 4:24 pm
Location: United Kingdom
Post by Lola » Thu May 01, 2008 2:54 pm
Quote
Very relieved Ang.

It's a bizarre feeling looking at the bank account and thinking if I don't budget well, then how will I feed the children?

But in the same breath, it's a nice feeling to know I can pay all the bills and not be using credit.
Top
 
 

michael.t47

User avatar
Posts: 798
Joined: Tue Apr 15, 2008 10:50 pm
Location: United Kingdom
Post by michael.t47 » Thu May 01, 2008 3:07 pm
Quote
i bet you feel so relieved
i am so happy for you
Top
 
 

Shining

User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am
Location:
Post by Shining » Thu May 01, 2008 8:27 pm
Quote
Great news and all the best for your future x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Top
 
 

lily

User avatar
Posts: 1251
Joined: Tue May 29, 2007 5:27 pm
Location: United Kingdom
Post by lily » Thu May 01, 2008 9:27 pm
Quote
Fantastic news, hope youre celebrating.
lily
Top
 
 

facingittogether

User avatar
Posts: 1141
Joined: Sat Apr 19, 2008 8:18 pm
Location:
Post by facingittogether » Thu May 01, 2008 9:49 pm
Quote
am really pleased for you!

congratulations!

barb x
12 down - 60 to go! woo hoo!
Top
 
 

aguise

User avatar
Posts: 3907
Joined: Tue Jan 23, 2007 11:24 am
Location: United Kingdom
Post by aguise » Thu May 01, 2008 9:55 pm
Quote
Thats really good news Lola. All the very best for the next five years.

Ang
Please visit my blog at http://aguise.blogs.iva.co.uk/
Top
Post Reply
14 posts Page 1 of 1
Return to “IVA approved!”