My creditors meeting is on Monday 7th September

[MelanieGiles]

Pay the sum of £1 to the Trustee plus approximately £250 towards the Trustee's legal costs, and the job will be done. The OR's staff will help you to go through this relatively simple process.

[Julie]

Hi Danny, like Melanie says its a simple process. You will need to get the property valued for the OR. Then there will be a form for your Dad to sign and you send the 2 cheques off., it cost us £1 and £211, don't know if the price has increased....thats it.

When you have your interview with the OR ( probably be a telephone interview) mention you have a 3rd party buying out the BI - they'll send you a leaflet explaining all. You do not need a solicitor for this process.

[danny4]

Michael mentioned earlier that I did not have any CCJ's which is correct. Would any of these be in place by October 22nd and what is the process for my creditors to get one.

[Shining]

I would think that any CCJ will be included in the Bankruptcy hearing, wait around for a professional to confirm this Danny but that is my understanding.

I hope it goes smoothly for you on the 22nd and having just read through this topic again has explained some points to me re the BI.

I can imagine it's a worrying time for you but we'll all be here to help/support you through it.

[Michael Peoples]

It is possible that a creditor could apply for a CCJ before the 22nd October but this would still be just a debt in the bankruptcy. It would be very difficult to have the debt secured in this timeframe as there needs to be a number of hearings first.

Any problems and let us know.

[fingerscrossed]

This forum never fails to amaze me on the advice and support it offers when some of the companies we pay vast amounts in fees to, dont even come close to what is offered on here.

I wish you all the best Danny and well done to the experts on here for yet again coming up trumps.

Dee

[danny4]

I agree with you Dee.
How long does it take for a CCJ.As I am going for bankruptcy is it worth it for the creditors. Should I at least contact them by letter to let them know or just wait to they contact me.

[Michael Peoples]

It would do no harm and they might wait until October as if they issue against you now they are effectively throwing good money after bad.

[Debtwitch]

Hi All

Just caught up with this thread.

Wish you all the best with your BRs Danny.

I do find it quite unbelievable that NR have chosen to reject your offer to repay 29% and are willing to settle for nothing! Also, I wonder if the staff acting for the IP at the meeting failed to use appropriate negotiation skills. It isn't just important to draft a good proposal, but it is also essential to remain in communication with creditors. There is no guarantee, but if the only alternative is BR, it can be a very persuasive argument to support the IVA.

Kind regards,

[danny4]

Used payplan. They are not putting the iVA in again. Angela do u now think that I should get the iVA proposal sent back to these people but keep the BR booked.

[Michael Peoples]

It is possible that they may reconsider given that you have actually booked a date for the bankruptcy. Someone would need to speak to them first to guage their views but the rejection may still stand if the IVA does not meet their criteria. I doubt if they would give in just because of the impending bankruptcy as this could set a dangerous precedent for them.

There is no harm in another IP contacting N Rock but there is no guarantee they will change their mind.

[Debtwitch]

Hi Danny

I would definitely speak to Payplan and discuss your current situation. If you are disappointed with how they have dealt with the matter so far, you could approach another IP - there are several postings on here recommending firms.

As you have already have an IVA proposed, it should expect that another IP would be able to get things moving quite quickly for you if they consider that an IVA would offer a viable alternative to BR.

Did Payplan offer any advice about BR?

[MelanieGiles]

The key is to identifying exactly why creditors rejected the first offer. Unless these issues can be resolved within a new offer, there may be little point in representing - but I would definately take a second opinion from another IP before committing to any decision.

[danny4]

Payplan would not advise about BR and they felt that NR would not change their decision. WOuld it be worth me sending copies of mine and my wife's proposals for someone else to take a look at.

[danny4]

Didn't know whether Michael you would take a look or could you recommend someone else. Maybe let me know if it was viable in the first place or not.