My son had his creditors meeting earlier this month and it was refused . Only one company voted against but it was his biggest debt so didn’t make the 75% so he’s received a letter saying it was refused . Nothing else ? No contact ? No phone call no advise of how to proceed ,no nothing from the IP ....

Thanks Foggy , that makes sense . It was Rate Setter that wanted the extension.
Many Thanks for your help

Just in to year 5 on my IVA and have received a letter regarding equity release, I had the usual clause in the original proposal however my IVA was extended for 12 months making it a 72 month Term when initially accepted because of a modification by one of my creditors wanting a minimum dividend of ...

Just about to enter in to the third year of my own personal IVA , no problems so far :D . We are however struggling with my wife’s debt , she is disabled and gets pip and uses the mobility component for a mobility car. Her only other income is carers allowence she gets for my son who has learning di...

I have been paying my own IVA for just over a year. Its a 7 year term !, I have been considering my wife's personal debt and what to do with it now she is unlikely to be able to go back to work due to ill health. Although her debt is only about 9k (I say only as its a lot less than mine) we really a...

[:)] So today my proposed IVA has been accepted after some minor modifications[:)] Would like to thank Michael Peoples and the rest of the team at Mccambridge Duffy for their excellent service and understanding throughout the whole process. They have been nothing but a pleasure to deal with during a...

Thanks everyone for your help and input ... received call today from my IP and some minor modifications have now been accepted so my IVA has been approved . I know its going to be a long slog but its a huge worry off my shoulders . Thanks again everyone

Thanks Lisa, your a mine of information :) . If my second IVA proposal is rejected I will have no option but to go BR , my only concerns are obviously loosing the house but as you say its unlikely however if my wife does have to buy any equity back there's the problem with the mortgage company and h...

So I could probably consider BRwith a very low risk of there being any equity in the house currently , however in a couple of years time there will obviously be more equity available ! Based on my calculations I think approx another 10k so equity is going to be somewhere between 10-20k assuming hous...

I'm still waiting to hear from my IP about what is happening, I can manage to increase my offer by changing a few things about about it will significantly increase the dividend so if its refused again and I have to go BR then thats what I will have to do , I'm going to see what my IP says but BR wil...

Thats my point ... none of my debt is secured therefore I shouldn't have to risk my house by going BR !but yes I know thats the way the cookie crumbles.

I remember years ago when all we used to hear from finance institutions was "your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it " , Thats why I never have and all my debts are unsecured so why is my home at risk because I cant pay my debts ?

Equity is around £8000 , based on a market price of £78000 (will never know a real price unless I get it valued my self . Total debt is £37000, offer is currently £150 a month although I have suggested I am happy for this to go up to £180. rubbish dividend I know but 5 of the 8 creditors accepted it...

Not sure what my credit record has to do with it , my record was outstanding Until February this year and my credit score was gleaming , but after 2 huge changes in circumstances I had no way of continuing with my financial commitments so have tried to sort things as quickly as possible for the cred...

Absolutely distraught ... My creditors meeting was today , 2 rejections and one no vote, one of the rejections Is my biggest creditor so no 75% reached , one no vote , I don't even know what that entails , and one rejected as I'd placed an order within the last 6 months (shop direct) how on earth th...