proposal received

[olympic_torch]

ps
when i asked ip what the waiting time was for a creditors meeting, i was told there was a ruling to say it has to be within 17 days of receipt of proposal, is this working days?.

[MelanieGiles]

No - and most IP's give at least 21 and sometimes 28 days, as that is what creditors have told us they like to see to give them time to vote.

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

[olympic_torch]

thanks melanie.
oh well, this thing has dragged on for so long now another few days wont matter i suppose, and on a selfish note, it means that it may not be sorted by the time i get paid next on may 6th, and we are due a bonus, so i may get to keep it all!.
another thing that puzzled us was a debt quoted on our proposal that we know nothing about, £900 pounds to a credit union?. we have told the ip over the phone, but they said it "must have showed up in a search"? where would they have got info from?

[MelanieGiles]

Make sure that document is right before you sign it. Your IP should be working in conjunction with you to agree the documents. If you do not have a debt with a credit union then do not declare one! I think you would remember whether you had this or not - and whilst IPs can use credit searches for a guideline, they are not to be relied upon. You know your debts better than anyone!

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

[MelanieGiles]

Make sure that document is right before you sign it. Your IP should be working in conjunction with you to agree the documents. If you do not have a debt with a credit union then do not declare one! I think you would remember whether you had this or not - and whilst IPs can use credit searches for a guideline, they are not to be relied upon. You know your debts better than anyone!

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

[olympic_torch]

thanks melanie.
our ip asked us to make amendments as required.
neither me or my wife have ever borrowed from a credit union
they had also got one debt down twice.