My creditors meeting is on Monday 7th September

[MRBLUESKY]

danny are you sure your creditors meeting regarding your iva has not been adjourned,which normally happens when not enough votes are acquired.totally agree with melanie your ip should have her finger on the pulse regarding your situation here.

[Amadna]

NR were a nightmare for us too, big time!! We were also with Payplan, I'm sure Payplan don't follow the criteria that NR require and am also sure that if we had gone with Melanie and her team, things would have gone much more smoothly.


Amanda

[MelanieGiles]

You could always get another IP to have a look at your case to see whether they would be prepared to represent it on your behalf.

[MRBLUESKY]

danny what ever you decide, keep us informed and please keep asking questions.try not to worry and good luck i,m sure you will get through this difficult time ,and the professionals on this site will help you for sure.

[MRBLUESKY]

danny what ever you decide, keep us informed and please keep asking questions.try not to worry and good luck i,m sure you will get through this difficult time ,and the professionals on this site will help you for sure.

[size5]

If the house is in negative equity to the amount you describe then my instinct would be to recommend BR. Even if you are subject to an IPO the you will pay far less back to your debt through BR than you would through an IVA.

Payplan are just as well aware of NR criteria as anyone else on here and if they cannot get it through then I suspect you will not have any more success if you try again through another firm. My own opinion is that you have offered a very fair deal and it has been rejected so you should now do what is right for you rather than worry about committing yourself to a 5 year IVA that is by definition a better deal for your creditors than a Bankruptcy. My advice is to go for BR and to not give a second thought to the vested interests who patently do not give a second thought to you.

Regards.

[Pennyless]

Danny good luck. I agree with size5......if your creditors wont go for the common sense approach of accepting your proposal of an IVA then however ludicrous it may seem receiving nothing or a lot less by making you go BR, then so be it. Shame common sense cannot prevail, especially when the bank was bailed out by Joe Public.

[danny4]

Thanks everyone for your support.It means alot to me.

[MRBLUESKY]

the ironic thing is if northern rocks criteria forces people to go bankrupt its joe public who picks the tab up.in my book something is better than nothing,unless joe public is picking the tab up.theirs over 10,000 members on this site i wonder how many would open accounts with northern rock in the future any offers,it would be nice to here something positive about northern rock any takers.

[Pennyless]

Hopefully I'll be able to add something positive in the coming weeks Ronald...have a mortgage and unsecured loan with them so heres hoping they approve my IVA. Also recently applied to have my mortgage changed from Repayment to Interest Only in order to help with my IVA application so will let you know how it go's.

Strange that theres very few on these threads who appear to have their mortgage with anyone other than NR? Bit of a pattern?

[danny4]

Michael thanks for advice on phone today. Came off the phone and had another question. If I go bankrupt and Maxine doesn't how could northern rock put a charge against the house if the payments were up to date. Just one last question I forgot to ask.

[Julie]

Danny - just wanted to add my good wishes for whatever route you decide. Going BR is not the end of the world....if it helps my hubby went BR in February and I bought out the beneficil interest.

There are others on here who have gone through the BR process so you'll get plenty of advice & support.

xx

[Skippy]

I've just caught up with this and wanted to wish you luck with whatever route you take x

[danny4]

Julie,
Is that because you were in negative equity that you could do that.

[MelanieGiles]

Danny - Northern Rock would not have grounds to put a charge on your property if you were up to date with your payments. But how would you maintain contractual payments to your other creditors at the same time?