Well, I have signed and returned my draft proposal to creditors and have heard today that my creditors meeting is now set! Terrified!! I fear (as I'm sure everyone does in this situation), that it won't be accepted due to the circumstances leading to the debt and the surprising calm and positivity I have felt recently will be replaced with panic and a lot less positivity!
I will let you know the outcome when I find out, just hope I can successfully join the many of you on the IVA journey, I already feel so much more in control of my finances and the IVA route would just make it so much easier in my head - I could just see it as a 5/6 year loan!
I know exactly how you feel as was in your shoes just over a week ago! The relief you get once you start the process is replaced with panic and fear but then we got the call to say creditors accepted and panic is replaced by relief again! I have spent this week watching every penny as this is now our life for next 5/6 years. We are looking at it as a loan to end all loans and our payment is less than what one loan was so we are hopeful we will succeed and determined to never get in this mess again.
I am sure you will be fine. I was told that IPs dont put forward proposals unless certain will be accepted and its in creditors interests to accept as if we go BR they rarely get anything whereas iva they get a proportion back.
Good luck im sure you will be fine and will feel that relief and positive thinking will be back!
Good luck, I was very nervous as we where offering a pretty low return, around 96% of my votes where done by TIX who agreed - with a few minor modifications. Grant Thornton where the only ones to try and impose serious (and unrealistic) modifications - but as they only had 2.5% of the vote they where rejected. I am sure your IP would not have put your proposal forward if they did not think it would be approved. All the very best.
Good luck ..it's a nerve racking time isn't it... We too have our our paperwork through with confirmation if our meeting which is booked for the 22nd...it can't come soon enough..I've been so worried about creditors chasing us but the majority have been great..most have put our accounts on hold for 30 days by which time I'm hoping everything will have been accepted. We too are looking at this as a 5 year loan..which is no different to the number of loans we've previously took out with a hope of getting straight...at least this time at the end of the 5 or possibly 6 years we'll hopefully be in the best financial position we've been in for years...best of luck to you and hope all gets passed.
thanks for your messages, not too much longer to wait now although I expect this next week will drag on a little!
I am trying not to think about it too much as the pessimistic side of me will drive me potty, I'll deal with any bad news as and when but for now I still have my fingers firmly crossed!
Hi Lisa I know exactly how u feel .. Our meeting is booked for Monday .. It's funny I've been feeling so positive the last few weeks but now our meeting is imminent I'm not feeling quite so up beat .. I know people post and stress that ip's wouldn't put forward a proposal if they didn't feel confident it would get accepted but I still can't help that little nagging doubt it'll get refused .. Here's hoping we both get good news .. Best of luck for a successful outcome and lots of sleepful nights #128516; can't wait for that sick feeling to go away !!
