Zoe
Can I ask you how you are feeling about everything now, having been throught the rollercoaster of proposing the IVA, seeing it rejected by one creditor but accepted by others, facing bankruptcy, and coming out of bankruptcy the other side.
In hindsight do you still wish that creditors had supported your IVA, or are you a little bit glad that things have turned out the way they have. Do you feel a little bit sore for the other creditors who supported you, but were forced to accept a zero return due to the wishes of one creditor.
I know that your Mum has offered to buy out your beneficial interest, but with the £385 per month that you are saving on your monthly contributions you can easily cover that yourself. The difference between IVA and bankruptcy procedures, in terms of expenditure allowances is getting larger, and this will result in more bankruptcies - the statistics are already out there.
Thanks for continuing to post - it is interesting for me and the other insolvency practitioners who post on this forum to understand what is going on in the "other side" of the insolvency world. I wonder if the creditor who rejected your IVA will make any form of representations to the OR about his decision regarding your IPO amount. I doubt it!
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk