Awaiting a date for creditors meeting ... Feeling sick to my stomach it will be rejected proposal is just under 12pmin the pound and after reading almost every post on the forum it seems far to low ? Proposal is £100 per month for a 28k debt .. Seems unrealistic to me ? As it's I'm my name alone OH is allowed 118 disposable income which is not included so could possibly stretch to 150 max if modifications are proposed .
I ha e never missed a payment until this month and feel gutted . Unfortunately OH wages are cut by £1100 a month as had to go part time , managed ok in the past . Debt payment about 800 .. Barclays are biggest creditor and I have read bad things about them not voting or requesting big modifications sorry for rambling but getting jittery now ! Just want a definitive answer as I have no idea how to move forward if it is rejected. I've budgeted so well this month and even have funds left til payday ! And that's with transferring 100 to savings ( as imaginary IVA payment and my 7 year old needing new shoes at £40 ! ) .. He has very narrow feet so have to pay Clarks prices fingers crossed for acceptance ...
I think we all felt the same. I know I was a mess phone turned off and curtains closed until I was accepted
I think you have to think your IP wouldn't have put proposal forward unless they were comfortable. I think there have been lower offers accepted
there are other options in the very unlikely event it is rejected
I'd say try not to worry but I know I did!
It is a big weight off once it's sorted
Good Luck and fingers crossed for you
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by recovering
I think we all felt the same. I know I was a mess phone turned off and curtains closed until I was accepted
I think you have to think your IP wouldn't have put proposal forward unless they were comfortable. I think there have been lower offers accepted
there are other options in the very unlikely event it is rejected
I'd say try not to worry but I know I did!
It is a big weight off once it's sorted
Good Luck and fingers crossed for you
thank you just hoping for some good news , feel a bit alone as my OH isn't very supportive even though he he has benefitted from all the debt ! In my name as his credit rating is chronic ! Don't think he realises how much effort and stress it has taken to get to this point ! Always me that has to take control ! Hopefully hear some news soon ! Il keep you all posted ....
Please don't worry as much (I know that is hard at the moment), as Recovering says, your IP would not have put the proposal forward if they did not think it would have a chance to be accepted.
I owed just slightly less than you do and mine was accepted paying around £130 per month. since then it has gone up to around £180 and had a PPI paid into to it.
The vast majority of the amount I owed was to Barclaycard with an amount to Barclays Bank and The Post Office (Bank of Ireland, I think), so Barclaycard had the YES/NO vote and voted for it.
Thanks, that s reassuring re barclays , I have a bank loan and 3 cards , the bank have been fine, agreed not to contact me for30 days and declined a nominal payment offer , barclaycard are ringing incessantly despite being informed of the situation! Even vanquis , mnba and capital one are holding off! Barclaycard have rang 3 times already this morning! An automated call every time ! Hopefully will get a date set soon ....
Yes, Barclaycard was a constant pain in the ar$e for the harassment they did before the IVA was in place and even for the next few days after it was too. In the end I had to threaten them with taking further action regarding the harassment before it stopped.
Don't worry about the p/£ I understand a lot of mods relate to charges. One thing that became apparent for me was once they actually Worked out how little we had to play with each month all of a sudden a lump sum IVA seemed more realistic.
For example in your case £100 a month for 5 years = £6000 (assuming no house equity). Now I know £6k is a lot of money but if their was a relative or similar who could make a one off payment for you would be willing and you repay them over the 5 years instead and are not bound by all the rules and reviews ?
One to think about if they do come back with conditions, especially if you can present a sound Case, a bird in the hand worth 2 in the bush etc as many IVA's fail or fall in to trouble etc and some get revised lower etc due to change in circumstances,. I was very lucky and a relative offered to pay our 5 years worth in a lump sum.
Your p/£ is higher than mine that was accepted !
Last edited by longslog101 on Wed Mar 25, 2015 11:14 pm, edited 1 time in total.
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register
IVA ended August 2015. Would recommend McCambridge Duffy
Ps re Barclays, I love the tip I read on this site, when anyone calls and they say they need you to identify yourself for data protection.....failing to answer those questions means they are forbidden to discuss the case with you over the phone as they can't verify your identity !, genius whoever thought of that, I used it the other day.....
Hi can I speak to john smith
Who is calling
E.g. Barclays
Ah ok
I just need to verify your account info
Can you confirm your date of birth,
Erm hang on you called me and with so many scams going on I don't give out personal info from incoming calls, feel free to write to me though.
But I need to discuss your account with you
Im sorry I take my identity security very serious, no can do over the phone, how do I really know you from Barclays. If you are you tell m the last transaction on my account so I know its really Barclays ?
I can't do that till you verify you are Mr Smith.
Seems we won't be able to do this.
Ok, bye,
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register
IVA ended August 2015. Would recommend McCambridge Duffy
Stay positive ... the offer made is the best offer to can do based on your circumstances ...it doesn't matter about p/£ ...it's better than creditors getting nothing if you were to go bankrupt.
Good luck !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Thank you everyone , feeling a bit less wobbly now ! Yes I did think off the f&f as being 6000 , not feasible though as no access to funds . ( my poor mum has bailed me out enough this year , she gave me 4K to cover wages when my partner hD to take 2 months unpaid off work to have an op and then another 3k when my 7 yeAr old managed to spend 3600 on clash of clans on his iPad in 24 hours !! (I did get it back after a long 4 week battle and pay her back ) now that experience was a major wobble !! (My fault for having card linked but he normally asked for a 69p game and he was distraught when he realised he was spending 'real ' money ! )
proposal is just under 12pmin the pound and after reading almost every post on the forum it seems far to low ? Proposal is £100 per month for a 28k debt .. Seems unrealistic to me ? As it's I'm my name alone OH is allowed 118 disposable income which is not included so could possibly stretch to 150 max if modifications are proposed .
just hoping for some good news , feel a bit alone as my OH isn't very supportive even though he he has benefitted from all the debt ! In my name as his credit rating is chronic ! Don't think he realises how much effort and stress it has taken to get to this point ! Always me that has to take control ! Hopefully hear some news soon ! Il keep you all posted ....
