I pay £200 a month & have 2years 6 months to pay I did a full & final of £6400 .today was the meeting they rejected it ip has emailed the one that said no to say it's more but I don't understand . it's more than I would pay over the 2years 6 months any ideas anyone?? Thanks
Sorry to hear of the rejection but hopefully the IP can talk the creditor round.
Do you know which creditor it is?
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
If you equity in your property then there is a likelihood the IVA would have been extended by a year if the equity could not be raised. This would increase your overall payments by £2,000 so perhaps this is where the creditor is coming from.
Hi Rob - your IP should be able to tell you. It seems odd if there was no extension as you were offering more than would have been payable. Could your IP adjourn the hearing to chase up votes from other creditors and sway the majority vote?
It's 75% by value of the creditors who vote on the day.
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
You certainly need a full explanation... it might be to do with equity release etc but you need to ensure a reason is given. Hopefully your IP can go back to the one creditor who said no to persuade otherwise.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
