How long may it take until the meeting/voting of creditors is set up?

Get expert opinion. This is the place for new questions to be posted.
15 posts Page 1 of 1
 
 

Joe.l

User avatar
Posts: 20
Joined: Sun Feb 21, 2016 4:17 pm

Post by Joe.l » Mon May 23, 2016 1:54 pm
hi
any ideas how long it may take until the meeting/voting of the creditors is set up?
i've sent the signed proposal back to my IP almost a month ago and still nothing happened yet
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Mon May 23, 2016 3:26 pm
Hi Joe - that's a bit strange, usually the delay is caused by the production/agreement of the proposals. As you have already approved this I would have expected the meeting to have been called as soon as they received the signed documents back from you and would have expected the meeting to have been held already and outcome known. Suggest you chase up your IP and find out what's causing the delay.

If in doubt you might want to consider using another IP!
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Joe.l

User avatar
Posts: 20
Joined: Sun Feb 21, 2016 4:17 pm

Post by Joe.l » Mon May 23, 2016 3:44 pm
thanks for your reply
i ve sent back the signed proposal on 3.5. with recorded delivery so it must been delivered by 5.5.
just minute ago I ve contacted my ip and his response was:
Out of the office until Wednesday.
Nothing to be worried about but I'll fully update you later in the week.

I m quite worried as I am 2 months behind with all the payments and creditors keep calling every day
Last edited by Joe.l on Mon May 23, 2016 3:49 pm, edited 1 time in total.
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Mon May 23, 2016 4:36 pm
I can only advise you to chase the IP firm up - why don't you give them a call?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

kallis3

User avatar
Forum Expert
Posts: 77167
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Mon May 23, 2016 4:46 pm
I agree - keep pressing them or chose a different firm. Your creditors will keep pressing you but you can chose to ignore the calls, tell them you are proposing an IVA or change your number.

Which company are you going with?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Joe.l

User avatar
Posts: 20
Joined: Sun Feb 21, 2016 4:17 pm

Post by Joe.l » Mon May 23, 2016 5:55 pm
i found this IP on www.gov.uk so he should be ok
 
 

kallis3

User avatar
Forum Expert
Posts: 77167
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Mon May 23, 2016 7:00 pm
Which company is it?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Tue May 24, 2016 11:38 am
But why aren't they keeping you informed?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Joe.l

User avatar
Posts: 20
Joined: Sun Feb 21, 2016 4:17 pm

Post by Joe.l » Fri May 27, 2016 5:40 pm
The meeting of creditors is on the 31st of this month at this office.
All creditors were properly notified on 13 May.
Ignore the phone calls and redirect them to this office.
There is no need for you to attend but make sure you are contactable.

seems ok. now good luck to me
 
 

kallis3

User avatar
Forum Expert
Posts: 77167
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri May 27, 2016 5:45 pm
Good luck!!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Joe.l

User avatar
Posts: 20
Joined: Sun Feb 21, 2016 4:17 pm

Post by Joe.l » Fri May 27, 2016 6:01 pm
thanks a lot
i owe 26 000 and offering 300 a month (43p for each pound owed)
hope the creditors gonna be reasonable
as i have nothing to lose really, if they refuse I'll go bankrupt which gonna give them 4p for each pound owed
it's their call just wonder what they gonna choose
 
 

kallis3

User avatar
Forum Expert
Posts: 77167
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri May 27, 2016 6:47 pm
I am sure everything will be ok.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri May 27, 2016 6:49 pm
Seems a reasonable dividend :-)
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Joe.l

User avatar
Posts: 20
Joined: Sun Feb 21, 2016 4:17 pm

Post by Joe.l » Fri May 27, 2016 7:44 pm
guys any idea what happens next once the iva is finished? i know they probably ask for a year extension but even after that i still ain't gonna pay them all the debt obviously
what happens to the rest of the debt?
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri May 27, 2016 7:47 pm
It gets written off ... credit files eventually clear and all is right with the world !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
15 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”