well done - it is good news -did NR insist on the exta year ??

good to hear - well done . Just now get down to the next 5 years !

It is perverse that as soon as you begin to trouble and struggle is the very time that the cc companies ramp up the interest rate . It is as if they know you might be having a hard time so they try and get debt up as much as they can. I was paying 34% with MBNA - which roughly meant £270 a month in ...

I cant see many people in the next few years managing to secure a re mortgage . The housing market is realy going to have to bounce back in order for people to get anywhere near a 20% LTV ( assuming that most people who went into an IVA round about now had little or negative equity ) I might be wron...

yes Melanie it is a great result .

Thanks Pap - we both had our creditors on the same day - all be it I am now a few days behind you !

well there you go - just took a call from Hywell who works with Melanie and the proposal has now been accepted - The only change is that NR want 6 years as expected - but no real increase in payments except a £10 increase . In fact none of the budget things I was worried about got chopped - so we ha...

If they have your work number on record then unfortuntley it will get added to the system and the automatic calling system will pick it up . I find that if you just say politely that sorry I am at work and cant discuss this now - then that is enough - You put the phone dowm and then get on with your...

Thanks all - and to Melanie and her team and to Hywell who managed to get to the bottom things and bring NR back on board . I think he said he was on the phone with them for quite a while fighting our cause .

hopefully NR wont come back with anything too draconian in the way of the I & E .

I envisage a 6th year perhaps - It will be nice to get this all in place so we know where we are .

We had our creditors meeting on Monday and the initial result was a rejection from NR ( 56% of the debt - so a must ) Our IP then managed to have a long chat / negotiation with them - so by the end of the day they had decided to accept the proposal - but with some changes / alterations ( still not s...

I think even Amex have to work within UK law and the 1986 Insolvency Act is a good start !!

Thats like me saying I dont do parking fines and dont recognise them

OK got you now - It is all about those who vote . So if you get a few big creditors to vote yes it will counter a few smaller ones who might say no . Not voting doesnt mean no !! It makes you wonder - creditors hassle you every day whilst you are going through the process - and then comes the daay w...

ah I see - so it has to be 75% of the value and not the numbers -

althiugh that doessnt seem to be the case with Stirling - with the example he gave over 53 000 of creditors didnt vote -

sorry if I confusing things here !!!

Thanks size 5 - so if you have say 10 creditors and 5 dont vote - you then only need 3 to agree ( out of the 5 who voted ) to create a binding agreement ?

good news - quick question - Its something I probably should know - If a creditor does not vote does that simply get taken out of the 70% equation and only those who voted get counted

over 50% of your creditors seemed to have just not voted - Is that normal