IVA approved! thanks to everyone who posted

[scaredkez]

goodluck for tomorrow sensible, i hope it all goes well.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[aguise]

Not long to wait now. All the very best for tomorrow.

Ang

[thebear29uk]

Hi Sensible

All the best for tomorrow

Dave

[Sensible77]

Thanks for all the good wishes.

One question I've just thought of is with HSBC stipulating a minimum of 40p in the pound, does that mean 40% of their debt or 40% of the whole debt, i.e. all my creditors?

[MelanieGiles]

40% of the whole debt.

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

[Sensible77]

Thanks, Melanie.

[Skippy]

Good luck for tomorrow.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[tracy.h]

Thinking of you today and sending positive thoughts to you and your family.
goodluch
Tracy

[Sensible77]

Thanks, tracy.h. Just over an hour to go. We've both taken today off work. Can't think straight at the moment, feel sick and very apprehensive. I'm looking at the paperwork now as I feel I am going into an exam and need to be clued up on everything. Daft I know, but there is nothing we can do now but wait. I will post as soon as I know the outcome or am in a calm enough state to do so!

[iva experts]

Best of Luck for today Sensible, try and remain calm until you know the final decision made. Positive thoughts your way [:D]

Best Regards. IVA Experts

[Sensible77]

Not good news. IVA was rejected but adjourned for 14 days. Citi, Capital One, Egg and HFC voted yes, Barclaycard and MBNA didn’t vote and HSBC, Monument, Halifax and Mint voted no. TDX voted on behalf of HSBC and KPMG voted on behalf of Monument, Halifax and Mint. The Chairman of the meeting said that no modifications were requested. He did ask me if there is anything I can do to increase the dividend, but that they must be realistic rather than knee jerk reactions just to get the IVA approved. There are a few things that I have put to him that will increase the dividend such as cancelling my pension contributions which will raise the dividend to over 40p.

As requested by the Chairman, I have e-mailed this in more detail to PayPlan and have already received a reply from them.

Feeling really down at the moment, but not out! I’m an eternal optimist. The next 2 weeks, hopefully less, will be awful, but there you go. If it gets accepted, it will have all been worthwhile. If it doesn’t, who knows….

[Adam Davies]

Hi
Well it looks like HSBC will not budge from the 40p minimum dividend,as suspected.They have more than a 25 percent share of your debt so you need a yes vote from them[or none at all].If you can raise it to 40p then your in with a chance,just be sure that you will be able to "live" for the five years.
Good luck and keep posting.
regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

[aguise]

Sorry to hear sensible hopefully it can be sorted. Not been a good couple of days for people, first zoe and now you, fingers crossed it can be sorted.

Ang

[scaredkez]

so sorry sensible that it was not good news today, hope everything works out for you
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[Oliver]

Sorry to hear of the disappointing outcome but I feel confident that if you can up your dividend to 40p in the £ by suspending your pension then your IVA proposal will be accepted.

Remember suspending your pension isn't the absolute end of the world as you can make this up with your disposable income payment once your IVA has completed.

Fingers crossed for a favourable result.


Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp