We have our creditors meeting next week and we have just received a letter from Northern Rock saying that they are going to add an administration charge of £64 to our account to cover the costs of voting. Is this normal procedure? can we expect all of our creditors to follow suit and add on extra charges prior to our IVA hopefully being approved?
I've not heard that one before! None of my creditors did that. The only thing extra we had was a 'drive by' valuation by our building society, which cost us £65 and has been added to the mortgage.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
No I haven't heard anyone mention this before on the forum either. I wonder if it is a new policy with the amount of people entering into IVA's at the moment?
I'm not sure of the amount of administration involved with voting but I guess if they are going to vote yes then it will be worth the fee in the long run!!
I have not heard of this practice before, but it is unlikely to disturb the dividend you are offering in any great way so I would just ignore it and hope that they vote "yes"!!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
That feeling of relief is fantastic! I was on a high for days afterwards. I love waking up not thinking about how I'm going to pay my debts, and being able to answer the phone and not worry about the postman coming.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I had one of those from Northern Rock. I did what Melanie suggests and ignored it. If it's any consolation, I got this letter and they voted "YES", so hopefully will do the same for you. Good luck.
Carl.
If you think nobody cares whether you're alive or dead, try missing a couple of credit card payments!!!
Thanks for your replies Til and Davram, It's comforting to know that you both had positive outcomes from NR following these letters.
Just hope that we will get a yes on Wednesday!!
