Hi all, I have only just become a member of this forum, but have been visiting the site for some months. My wife and I have a total debt of around 68K to 7 creditors, and decided after reading comments posted on this forum to go down the IVA route. We started our application at the end of June and were given the 31st of July 10:15 as our creditors meeting. When the big day arrived we were contacted to be told that not one of our creditors had voted, and so the meeting would be re-scheduled for 7th August [:(!].
Well Today at around lunchtime I was contacted by our IVA provider with great news that the IVA had been accepted [:D] by all of the creditors that voted at 31p/£, if I remember right I think that it was 2 that didn’t vote (Will be in the Report).
Natwest were our main creditor with 2 loans and 1 credit card, but they accepted our proposal with no changes. I must admit that I am slightly confused as to why 50% of my overtime was not proposed by my creditors[?]. We had put the IVA together on my basic salary as we did not want to rely on my overtime to be able to make the payments, and expected the creditors to propose taking half of any future overtime earned which I would not of begrudged paying[?]
As you would expect my wife was over the moon when I told her of the Approval, and it was great to see her smile again!![:)]
This forum has been great for us, and we would like to thank all that contribute to it, and wish luck to everyone that are taking that important first step in trying to sort out their debts.
