Creditor's meeting

[dazza]

I am awaiting my cerditor's meeting for an IVA on the 14th June which cant come quick enough,I was wondering what they tend to do regarding cars and requesting it to be changed(car value ~£7500).Any advice on this would be great.

[Shining]

Hi, if your proposal is written and a meeting date set then is the car listed in there? Has your IP mentioned the car?

good luck for the 14th and welcome to the forum.

[luluj]

Dazza - your proposal document will outline what is required if your car value is significant enough to make creditors want you to sell it. If it is of relative low value then it should be excluded from the arrangement.

Have a word with your IP if you need to gain reassurance prior to the creditors meeting.

[dazza]

Hi,Thanks for the replies.my car is listed as assets not specifically pledged along with my pension payment for the month.When I spoke to someone she didn't think it was extravagant but the creditors may ask?

[Foggy]

The creditors will look at this several ways: 1) It is an asset and could be sold and you get a cheaper vehicle, or 2) You need a vehicle to get to work etc. and a reliable vehicle is more likely to survive the term of the IVA without needing expensive repairs or replacement.

It would seem your IP has taken the latter view and, hopefully, the creditors will agree.

[Struzzo39]

Good luck from us

[dazza]

Thanks for the advice and good wishes,nothing to do but wait and hope all goes well.Will keep you updated when I get my result!

[Slekclarke]

Hi Dazza

My Creditors meeting is on the 14th too, I have everything crossed. We go on holiday next week, just a cheap Haven Sun Holiday for five days but I can't get excited about that until Friday has happened. I wish I had a crystal ball. Good Luck with yours.

[Shining]

Good luck to all with meetings this week. Hope it all goes positively for you.

[kazzafunk]

Good luck for tomorrow to both of you.

[dunkynuts]

Good Luck Both of you

[dazza]

My iva went through fine yesterday with no problems,had to increase my initial offer but no issue with keeping my car so pleased with the outcome.big relief to get it out of the way and now move on.thanks for the good wishes!