Egg & Am Ex

[stella]

Does anyone have any experiences with either of the above. Am absolutely beside myself with worry, as have heard from a firm of solicitors today representing Am Ex that because I am entering an IVA they are going down the charging order on my house route and they would vote no for an IVA. I have also today received a letter from CapQuest regarding my Egg card saying that if I do not pay up they will instruct their solicitors to expedite legal proceedings and both Am Ex and Egg have checked the Land registry etc and verifying employment details.

As it has taken over 3 weeks for my IP to send the IVA proposal to me, which I am not happy with, I decided to get some further advice from Thomas Charles and Sabina is at this very moment trying to sort things out for me and said that they should have told me about Am Ex from the start. If anyone out there has anything else they can tell me or help me with, please do as I am sitting here crying my eyes out and I have had to come home from work, which I said I would never do.

Thank you very much.

[MelanieGiles]

Hi Stella

Amex are one of the most aggresive creditors in terms of collections, and their solicitors (Brachers) are generally very good at instigating charging order procedures on their behalf. Your IP will need to think about the benefits of getting an Interim Order in place, to stop Amex from continuing with their action, whilst creditors generally are given the opportunity to consider your proposals. Beware - if Amex are owed more than 25% of the debt, they will likely reject the IVA on the basis that their charging order will see them secured on your property for the full amount. Be prepared to fund a £130 Interim Order fee if that is the case.

Egg are more friendly, but I have even seen rejections from them lately - they appear to object if you have been paying the account immediately prior to entering into an IVA, which is rather odd.

Try not to worry - you are in very safe hands with Sabina, and I am sure she will sort out something for you soon.



Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[stella]

Thank you very much for your help. Am Ex are not owed more than 25% of the total debt, not really sure about how much percentage wise Eggs debts are. I really wish that the IP I went to in December had told me about this, I sent them all my creditor bills, letters etc. Luckily I have kept copies of everything. I even told them about the Am Ex letter (that's when I could get hold of them). She said just send it to them it's just normal.

Sabina has enlightened me on more things and now think I feel more confident with what she is doing for me. As I have only just received my IVA proposal from this other IP, I have not paid them anything yet, will I have to pay them any money. I am not happy with the proposal as it does not even offer 25p in the £ dividend but Sabina said that that it could be done for 25p in the £. I am still sitting here crying. Please help a bit more.

Thank you. [:-(]

[Oliver]

Hello Stella

I am sorry to hear that the process has not been smoother for you. It sounds to me like you are slightly unclear on some of the finer details of your IVA. Would you like me to get Sabina to give you a call so you can talk your things through a bit more so that everything is clearer. If you would like Sabina to call you please post your Thomas Charles reference number (please do not post your full name or any other details for your protection) on the forum under this thread and I will ask Sabina to contact you asap.

Kind Regards

Oliver

[MelanieGiles]

Stella

Please stop getting upset - it is not worth it. Sabina will be referring you to a new IP, who will act immediately they are instructed and deal with the charging order issue. Trust me, for us this is all in a day's work!

You can cancel your agreement with the other IP for no payment whatsover - it seems that you have a good reason for this.

IVA's which offer less than 25p in the £ are always doubtful, so if you can increase the offer this will give you far more certainty of a result.

Good luck - and smiling not crying from now on!!!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[stella]

Oliver

Thanks for your kind offer. Only spoke to Sabina for first time last night and yes am bit vague about the finer points but a lot better off than I was this time yesterday until I spoke to Sabina. She is trying to sort something out for me today and am waiting for a call from her anyway.

Melanie

Thanks for your kind words. I will try to smile and hopefully this can be sorted out v v soon! Will be back I am sure!

Stella X

[Oliver]

Ok Stella.

If you need any help at all please feel free to contact me on 0800 072 5988 and I will either be able to help you myself or put you into contact with Sabina.



Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[MelanieGiles]

Stella

I've been fighting an AMEX charging order all week, and have just heard that they have withdrawn it from my client's property. Some frantic faxes to the Court at midnight the other evening, but worth it in the long run.

I have no problem with creditors pursuing their outstanding balances, but when creditors know that there is an impending insolvency and other creditors out there, they deserve to be pipped at the post!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Oliver]

Quite right too Melanie. Well done for going that extra mile in order to get the right thing done.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[stella]

Melanie

thank you for that. Still waiting to hear from Sabina and hope we can get things moving asap. I was not aware that creditors were able to do this sort of thing on your property. Egg say if i don't reply by a certain date in February they will do the same. Have had my property valued and there is not much equity in it. When I spoke to the solicitor for Amex, he thought it was funny as my mind was and is in a complete pickle and he said oh well it's life thing and these things happen. Lovely! Still having bouts of crying, like now. Oh well! Feel like chucking the towel in but can't as have got a job to go back to. Any more info you can give me would be great.

Stella X

[stella]

Oliver

Sorry to be a nuisance but perhaps you could ask Sabina to give me a call or any help would be good. I don't like to pester too much. I know you are all very busy but just don't know what to do at the moment.

Thanks v much

Stella x

[Oliver]

No problem at all. I will ask Sabina to call you as soon as she can.



Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[stella]

Thank you for all your help today, and I have heard from Sabina and hopefully together we can get this thing sorted asap. She was absolutely fab today and I totally trust her judgement.

Speak to you all soon

Stella X

[Dominic]

Stella keep going don't let the b*****s grind you down.

[stella]

Morning,

Thanks Dominic, that made me laugh through my tears!! Obviously I am very naive about how debt collectors, creditors treat people but am learning PDQ!!

Melanie

Question for you if you don't mind regarding this Am Ex thing. Although I had a letter from Am Ex saying they had passed my case to Brachers, I had to ask for Brachers number as I have not had any correspondence with then. I had to phone Brachers to see what was happening and this is when the whole thing came out. Just thought of something he said. He said that he was dealing with IVAs etc and someone else would be dealing with the litigation. He did not give any further details of what this meant. I assume he means that as well as trying to put a charging order on my house they are trying to petition for my bankruptcy as well? Should I assume that Brachers will send me correspondence as dates when this should happen as I don't know how far down the line it's got myself.

Thank you in anticipation.

Stella
X