success but additional contributions needed

[OPTIMIST12]

Some of the increases required for acceptance that have been posted on the forum recently seem very high.Is this the shape of things to come? It makes me very thankful that my proposal was accepted at the initial figure.

[Martin2011]

Congratulations Mike, great news, so long as you can afford the uplift...

Look forward now, it does seem to get easier once you get used to it...

Martin

[MelanieGiles]

Another case a very high increases in expenditure demanded by creditors and accepted by a debtor. Mike as a matter of interest how are you going to fund the increased payment for the next five years?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[cat 1]

well done mike...this is very large increase though? Careful not to set yourself up to fail. Three years ago I took out a large consolidation loan. Couldn't always meet the payments so 'borrowed' on credit and here am am today? Well done though.Cat

[caraf]

Well Done - brilliant. So Clearstart done an excellent job for you in the end !! But a big increase, hope my creditors dont ask for such a big increase I cannot afford that.

[debbiw]

Well done Mike, High increase though????? Where do the creditors expect the increase to come from?

[Mike74]

The increase appears high, but what needs to be made clear is the proposal was in fact over £400 less than the original drafted proposal figure, not only to make it more affordable, but to leave scope for any anticipated increase. In hindsight I realise CS have employed a clever tactic, even though it made me somewhat cagey for a few days!

"I will creep into your thoughts like a bad debt, that you can't pay, take the easy way out - and give in." Morrissey.

[debbiw]

Oh! Very pleased for you mike, all the best

[aguise]

Great news ther Mike.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[Skippy]

That's really good news Mike - good luck for the future x

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Mike74]

Thanks Guys! Merry Christmas!!

"I will creep into your thoughts like a bad debt, that you can't pay, take the easy way out - and give in." Morrissey.

[caraf]

Well done Mike75.
Was there any mods to clearstarts fees ?? what was the total fees including vat for your 2 ivas?

[Mike74]

Hi caraf, I can't be sure what the final fees are (at this stage), but CS have reduced them at the request of the creditors.

"I will creep into your thoughts like a bad debt, that you can't pay, take the easy way out - and give in." Morrissey.

[MelanieGiles]

From a professional point of view your IP's strategy is not a clever tactic at all, but one which is creating great distrust in the marketplace and causing clients of IPs who honestly report to be pushed into making unfair additional contributions. I am genuinely pleased that your IVA has now been accepted, but continue to be saddened at this sort of behaviour from professional firms caused by greedy creditors.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Mike74]

In fairness, the reduction was only made following a discussion with my accountant whom had stated that my income was exaggerated, so I can't be sure this was a purposeful tactic employed by CS, and I agree, this would only serve to increase the mistrust between IVA firms and creditors. Either way, it worked out... I can be thankful for that.

"I will creep into your thoughts like a bad debt, that you can't pay, take the easy way out - and give in." Morrissey.