Hello everybody and thankyou

[scooby]

Hello everybody and thanks to you all
Although this is my first posting I have been reading the forum and taking advice from all the postings I have £72000 worth of unsecured debt and can only offer 26p per pound to my creditors. My creditors meeting is scheduled for the 28 November and I was told to call 10 mins after meeting starts incase they want to change anything does anybody know what they may want to change. As I gave my IP a full breakdown of outgoings and do not have any more spare cash

Can they force me into bankruptcy if I cannot offer any more?
Thanks Scooby

[Oliver]

Hello Scooby

It is quite normal for you to be asked to be available on the phone and it is also quite normal for there to be some minor adjustments to the proposal. This can range from your creditors asking you to reduce one of your outgoings (i.e. not being happy about an expense of £30 / month for goldfish food etc...) to asking you to suspend your pension payments for the duration of the IVA.

However, please do not overly worry about this as your Insolvency Practitioner would not have taken your case on unless they felt that it had a strong chance of succeeding.



You can access Video Clips giving additional information about IVAs at:
http://www.thomascharles.com/interview_ ... an_iva.asp

If you would like more information about IVAs, other debt solutions, or just want to arrange an informal chat, please visit us at www.thomascharles.com.

Best Regards
Oliver
www.thomascharles.com