IVA DRAFT PROPOSAL NEXT STEP?

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markss

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Post by markss » Sun Mar 02, 2008 10:19 pm
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DFD are sending me my iva proposal to sign and return. when they get it back do they then arrange creditors meeting or simply write to them with the draft proposal?
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MelanieGiles

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Post by MelanieGiles » Sun Mar 02, 2008 10:53 pm
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They will do both Mark.
Regards, Melanie Giles, Insolvency Practitioner
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Oliver

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Post by Oliver » Mon Mar 03, 2008 9:40 am
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They will draft a proposal and set a creditor's meeting. They will likely contact you once the date has been set.
Best Regards
Oliver
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OPTIMIST12

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Post by OPTIMIST12 » Mon Mar 03, 2008 9:51 am
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Just a suggestion - but when I first received my proposal my initial reaction was to sign it and get it in the post 5 minutes later.

Reason got the better of me and I read through everything thoroughly and then slept on it (not literally!!!) to give me a chance to make sure that I had understood it and to make sure that I had everything clear in my mind.

My proposal was accurate and clearly worded and I was perfectly happy with it. I sent it back the nex day. Its such an important document though that I think its vital to make sure you are completely happy with it. And - looking further down the road - if you get Modifications at your Creditors meeting - do take some time to take them in as they are really important too.

Good Luck!!!!
Last edited by OPTIMIST12 on Mon Mar 03, 2008 9:53 am, edited 1 time in total.
47 months completed - 13 months to go.
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markss

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Post by markss » Mon Mar 03, 2008 9:55 am
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thanks for the advice
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iva experts

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Post by iva experts » Mon Mar 03, 2008 10:10 am
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Some great advice from Optimist, you do not have to sign the document straight away and send it back. I think it is good to throughly go through your proposal so then there are no suprises.

Best of luck with your IVA.
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
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ianmillington

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Post by ianmillington » Mon Mar 03, 2008 10:15 am
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Great advice from Optimist.
Mark you need to go into this with your eyes wide open, so read it line by line and make sure you understand all your obligations. If you don't understand anything, ask DFD what it means. This is your golden opportunity to have some input into the proposal.

Ian
Last edited by ianmillington on Mon Mar 03, 2008 10:16 am, edited 1 time in total.
Ian Millington
Insolvency Director
PDHL Ltd (formerly Personal Debt Helpline Ltd)
www.pdhl.co.uk
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