How long does a creditors meeting take?

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Lisa Thomas

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Post by Lisa Thomas » Mon Dec 07, 2015 10:45 am
The creditors meetings take no time at all as most are voted on by proxy. Your IP would have known the outcome at the time of the initial meeting. It could be that for some reason they adjourned this meeting to allow time for something. They can adjourn the meeting for up to 14 days. Contact your IP and ask what's going on.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Mattd0129

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Post by Mattd0129 » Mon Dec 07, 2015 6:41 pm
Thanks You Michael Peoples its good advice!
apparently the meeting was adjourned for 14 days!
One of my creditors is being awkward and thy say that the person dealing with this has left their company so we have to start again?!
14 days expires tomorrow and hopefully I can have a decision.
Im into week 12 now and its dragging on more than I thought!
 
 

Mattd0129

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Post by Mattd0129 » Tue Dec 08, 2015 9:33 pm
I don't think that it's been accepted as one of the creditors is rejecting I think!
I find out tomorrow!!
 
 

Mattd0129

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Post by Mattd0129 » Tue Dec 08, 2015 9:39 pm
It's hard trying to go about your daily job when you feel like you have swallowed a concrete mixer!#128513;
 
 

Michael Peoples

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Post by Michael Peoples » Wed Dec 09, 2015 10:40 am
This is a real shame Matt and pity the time has run out. However you can resubmit your proposal and even amend it to incorporate any new changes or offers and hopefully this time it goes through.

You do not need to use the same IP as last time if you are resubmitting a proposal especially if you have lost confidence in your current one.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
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If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Lisa Thomas

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Post by Lisa Thomas » Wed Dec 09, 2015 11:50 am
It's a shame this wasn't sorted in time for your original hearing and at least by the adjourned hearing. It might genuinely be the fault of the creditor though, not your IP. Get clarification first before you decide what to do next (unless your IVA was approved!)
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Mattd0129

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Post by Mattd0129 » Thu Dec 10, 2015 7:18 am
Thanks for your kind words on the friendly forum!
A major creditor is really dragging their feet and I need them to agree to move forwards.
14 days has expired so we are amending the document because they want me to sell my vehicle and this is not possible and is worth very little!
I will have a new creditors meeting in the new year and we are confident for a positive decision.
We will have to remind the major creditor that all other parties have agreed and the alternative would leave them in a poorer position.
Ive spoke to my IP and I feel much better about the whole thing.
After an incorrect visit from the enforcement officer a few months ago im keeping the doors bolted and nothing valuable for seizure on my driveway until I have my IVA!
 
 

kallis3

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Post by kallis3 » Thu Dec 10, 2015 8:59 am
Good luck with the new meeting Matt - hope the creditor sees sense.
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
 
 

Michael Peoples

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Post by Michael Peoples » Thu Dec 10, 2015 9:31 am
If you have not already had an 'interim order' you could apply for one now which will give you legal protection from creditors until the meeting date. It is a pretty straightforward procedure so if you are afraid of enforcement officers then this may be an option.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Lisa Thomas

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Post by Lisa Thomas » Thu Dec 10, 2015 4:17 pm
It will cost a lot of money to get an interim order though! Has any one given the creditor evidence of the value of your car?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

kallis3

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Post by kallis3 » Thu Dec 10, 2015 5:02 pm
I always thought the IP could apply for an interim order?
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
 
 

Mattd0129

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Post by Mattd0129 » Sun Dec 13, 2015 2:12 pm
I feel that I should be safe!
I did have a visit several months ago and the enforcement officer was calling for the tow truck!
They had mistakenly put my company name wrong on the order and had assumed that I was a Ltd company when I am a sole trader!
I feel it was a lucky escape!
 
 

kallis3

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Post by kallis3 » Sun Dec 13, 2015 2:15 pm
I think you will be fine but it was a lucky escape!! Not seen you on 'Can't pay we'll take it away' have I? LOL!!
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
 
 

Mattd0129

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Post by Mattd0129 » Sun Dec 13, 2015 2:30 pm
Lol
I didn't sleep for a few nights after that#128556;
It stopped me working for a while as I was worried if leave my works vehicle in the drive!
It gets really hot in the desert and you have to keep your eyes closed to avoid the vulchers!
 
 

Mattd0129

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Post by Mattd0129 » Sun Dec 13, 2015 2:35 pm
In business it's quite possible to disolve if you 3 lots of bad luck in a short time.
I'm glad I found you guys!
I've been sprayed with bullets and I caught more than a few but I'm hoping to get through it in one piece!
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