IVA possible if i have debt with northern rock

[Sadsack]

Andy

I think that is what I was trying to get at all along but you did it for me ---- THANK YOU!!!!!

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

[Oliver]

Yes they could and ultimately if they do this someone would need to put in place something that would offer legal protection, i.e. bankruptcy or an IVA. Remember an Interim order can be used to defer charging order proceedings whilst an IVA is being proposed.

Best Regards
Oliver

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

[catullus]

Andy

There is, but that might possibly help in reducing NR's unsecured vote in the IVA (not that you would want to manufacture this however!!)

If the decision was that they should be prevented from getting a charging order then an interim order pre IVA would stop it in its tracks, but that's rather self defeating, isn't it, because you would need their vote in the IVA and with 50%+ of the debt I somehow think that they would be rather negative to the IVA.

One way or the other there really is no harm in talking to them and it just might make the difference between a yes vote and a no vote.

[Adam Davies]

Hi
I just think that NR would talk someone into some sort of DMP so that they can keep the debt on the balance sheet.Didn,t they state that 9 out of 10 IVA proposals that they get should never have been proposed in the first place?If you somehow could prove that you ARE going to propose bankruptcy if the IVA was rejected then you surely would get a positive result
Maybe your right and by speaking with them first you are more likely be successful.It would be interesting to hear the reply Richb gets if he does speak with them,maybe he will be one of the lucky 10%
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

I wholly agree with Catallus' good advice here, and I do speak as an IP in practice who does get acceptance votes from Northern Rock still. This is happening by talking to them initially and explaining the merits of the proposal - we do not always get a positive answer, but they have their current policy and there is little we can do about this. You cannot possibly jeopardise your ability to have an IVA by being upfront with this creditor, and if they do pursue other routes such as charging orders, then they will do this in any case.

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