NR DOUBTS

[Kazzy E]

Hi Guys, NR are our biggest creditor (at over 50% I think I was told). We are still waiting to hear how they are likely to vote and have been told it will add a couple of weeks onto the normal procedures. Our proposal has not been prepared yet. I am really worried that the outcome won't be good, and am a bit unsure of how the voting works really. Can anyone enlighten me as to how it works a bit more as I am still unsure and need it straight in my mind. Thnx Kazzy x

[Moneystinks]

Hi Kazzy

Are you with Melanie.

If so her team told me they 'drip feed' apps through the NR so as not to overwhelm them. If it is any consolation and if you are with Melanie then she herself last Friday told me on the phone that her team have an excellent proffessional working relationship with NR. NR are about 30% for me and they have provisionally said ok. Now for everyone else once we have seen/signed the proposal.

Good luck I felt just as you are now and I think most other people on here. Hope you start to feel better.

XX

[Kazzy E]

Hi Marie, yes we are with Melanie. I suppose things have naturally gone a bit quiet as all the paperwork as now been sent so its just a waiting game now. Trouble is, I am not very good at being patient, but I know Melanie's team will advise me as soon as they know anything. They have been fantastic.

I am a bit confused by the 75% 'yes' votes. They way I understand it is that as NR are our largest creditor, I think I am right in saying that we 'don't' want them to vote so it gives us a chance with the others. Is that right? I feel loads better than I did this time two weeks ago. I just feel that any control I had has now been handed over (albeit to people who are much more professional in this situation than I am). That's why they are the advisors and we are the debtors!!!

I am sure all will pan out ok, but probably I am just seeking a bit of reassurance.

Thanks for listening. Kazzy x

[indebtforever]

northern rock were my biggest at 52% and they didnt even vote so i wouldnt lose hope

[Kazzy E]

Thanks IDF - think thats what I have to hope for. Kazzy x

[facingittogether]

hubys was over 60% of his debt, they voted yes!

i get confused as to how the voting works!

barb x

[cath79]

Hi Kazzy

I so know how you're feeling about NR, as they're also our biggest creditors approx 60% of ours, so we're also very nervous as to if they'd vote yes. We've sent all our documents etc to melanie so just have to be patient too - although i too am very impatient lol! On the plus side our re-mortgage has just been approved, so that's one less thing to worry about i suppose.
Hopefully we'll hear something soon

Cath

[kal]

NR is our main creditor, and I know that our IP had contact with them throught our process - they asked that we drop down to an interest onloy mortgage (they would only accept if we did).
Our IP told us that as we were a good customer of theirs, then they could see no problem with the IVA - they since accepted.
I'm sure the same will happen with you and wish you the best of luck.
k.

[Kazzy E]

Thanks Guys, we don't have a mortgage as we sold our house in January (thank goodness) but we do carry an unsecured element of the original mortgage which we didn't pay off. I know Melanie's team will come up trumps for us, as I said though, the suspense is killing me as I am so impatient. I would expect to hear something in the next week or two. Kazzy x

[Adam Davies]

Hi
If a creditor holds more than 25% of your debt then they have a deciding vote and if they vote no it's all over.However we have seen many times on this forum creditors that do not vote leaving minority creditors with the say so on your IVA.
Melanie has a great relationship with NR and will pre propose your IVA to them for any feedback prior to the actual creditors meeting.
You really are in the safest hands
Regards

[Moneystinks]

There you go Kazzy I hope Andy has put your mind t rest!

I did type a huge reply out for you about 10 minsago but had forgotten to log in lol.

I then lost what I had typed - not my night eh!

[Kazzy E]

Hi All, thanks for your replies. I understand now (I think !) I know I am really good hands with Melanie's team. I am just a born worrier, but thanks for putting my mind at ease. Kazzy x

[Viki.W]

Hey Kazzy, I know you'll worry anyway until your IVA is approved....which..... IT WILL BE![:D] But, any questions you have or if you're having a "worried about everything" day, just post on here. Guaranteed to make you feel better. It makes me feel better. Viki X

[Kazzy E]

Hi Viki. I often have 'worried about everything' days, thats my nature and I wish I could change it! I always feel better when I throw my worries out to the forum, so thanks for your reply. Also thanks for posting on my June Looming topic, I feel so humbled that everyone has been so kind to me these last couple of weeks, that I just thought I would welcome the newcomers too. Kind Regards Kazzy x

[Viki.W]

Do you know what Kazzy, when I was new to the forum, only a couple of months back, there were lots of members who made me feel welcome and special, I didn't really post that much then, now......they can't shut me up![:p] I think it's nice to welcome the new comers as it puts them at ease and encourages them to keep posting for help. Keep up the good work[;)][:D] Viki X