my iva was rejected Can you suggest anything?

[kev]

my iva was rejected by one creditor (the largest one) and the whole deal collapsed. Then the creditor took me to court. My IP took around 5 months to put the proposal together and then had no advice when it collapsed.I am back to conatcting my creditors individually and facing the prospect of paying off debts for many years. Can you suggest anything?

[MelanieGiles]

Which creditor - Northern Rock??? Do you know why they rejected? It may be possible to represent your proposals, but I would need to know what was behind the rejection to be able to advise further. What level of dividend were you offering?

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[tracy.h]

H kev,welcome to the forum.im sorry you are haveing so much worry,i have also had problems with my iva,but dont give up,post your details and Melanie will give you the advise you need,there are so many people in the same situation that you find yourself in and not only will you get the technical advise others will also come and give you support,and help at this worrying time.
I really hope you will get some answers to help you move forward,it looks like you have already been through so much,5 months is a long time and then to be rejected,and get no answers as to why.I hope you didnt loose any money,in up front fees.I would always advise when looking into iva dmp or br people should always try at least 2-3 companys,and feel confident that they are getting the right advise and make the right desision that helps you find a viable solution that suits your personal needs.
Hang in there.
Tracy

[kev]

The creditor is Black Horse for around £6.5k. We were never told what the creditors where offered. In fact, my husband took a day off on the day of the meeting as suggested in case there were any questions but Clearstart omitted to tell him that the meeting had been postponed!
Black Horse are aware that our finances have suffered due to me not working for most of last year due to surgery and treatment for cancer so I don't expect them to be any more understanding about kev's heart attack.We asked them for THIER proposal and they replied with a summons.
Once the IVA failed Clearstart washed thier hands of it.
Julie

[aguise]

Hi Julie
Did you not have a copy of the proposal it should state all of that the offer etc, creditors should have been aware of your reasons for struggling. Do you own your own property. As melanie says it may be you could represent with a better ip.
I hope you and your hubby are recovering. My husband had a heart attack . I know what effect that has, as I am sure you know, family is so much more than any amount of money. There will be a solution, keep posting we will all help to find it.

Ang

[tracy.h]

Hi Julie
Iam so sorry how that you have been treated so unfairly,and you and your husband have such serious health issues,this is all you need.
I suffer with a long term illness myself and i understand that stress has a detremental affect on people who are healthy so i really do sympathise with your situation.
You now need to act quick as if your iva has failed you will be back to square one and need expert advise asap,please send your details ie:income expenditure if you own a property and names of creditors so that you can get the help you need,and details of summons,obviously your main concern has to be yours and your husbands health and the sooner you can get answers and a solution to your debts you can start to concentrate on getting better.

Tracy

[tracy.h]

sorry ang posted at the same time

[MelanieGiles]

I don't understand your comment "were never told what the creditors were offered". The offer to creditors was contained within your IVA proposal which you and your husband would have signed. Was this explained to you by your IP?

Black Horse are a difficult creditor, and it is widely known in the insolvency world that they reject IVA proposals where the debts were incurred during the last year. Was this the case in your case?

Find out from Clearstart exactly what their problem was, so that if you decide to represent with another IP this issue can be addressed.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[aguise]

No bother Tracey had problems posting that one, nice when someone says the same thing, I take ages to do some of mine I have days when I cant spell and have to recheck it and then ten people have posted and the whole subject has moved on. Hope you are ok.

Ang

[tracy.h]

Thanks Ang im fine think i need afew lessons on typing from skippy.

[Skippy]

Lessons from me?!?!?! You wouldn't - I'm the worst teacher in the world!

Julie, I just wanted to say that I am so sorry about yours and your husband's health problems, and I hope that you are both making a good recovery. It's a shame the creditors can't be more understanding, and treat people as human beings. Look after yourselves 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/

[kev]

I don't understand your comment "were never told what the creditors were offered". The offer to creditors was contained within your IVA proposal which you and your husband would have signed. Was this explained to you by your IP?

Black Horse are a difficult creditor, and it is widely known in the insolvency world that they reject IVA proposals where the debts were incurred during the last year. Was this the case in your case?

Find out from Clearstart exactly what their problem was, so that if you decide to represent with another IP this issue can be addressed.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[lisa]

hi kev hope u and ur wife are in better health now, i too have BH as creditor we have 19 thous + in total debt they have about 5 n half, i no they gona refuse it, as i had some1 on phone saying so, im very worried as they treated court action to us to , but they have to apply for cert of earning first, via court, can i ask what happen wen they took u to court? and have they offered to help since ie offered to reduse yourpayments ect? im just worried as not sure what happens if they say no.... good luck

[kev]

Basically the timeline is:
Signed statement of affairs and authority to act in August 06, we were then told by letter that they would be offering 31p in the pound.
It then took until Dec to arrange the meeting.The propsal was rejected by BH and Clearstart sent all our documents back to us in Jan 07.
We objected by letter and eventually they offered to meet us but we have not done so yet because of Kev being in hospital.
The BH debt goes back as far as 2004.We do not know why they rejected it or why they sent a summons.
Can you suggest anything else we should be asking the Ip when we get together ?
Julie
PS Thanks to all for your messages of support, had no idea there were so many people out there with money worries similar to our own.

[MelanieGiles]

Why did your IP say that Black Horse rejected? They must have given them a reason? It seems incredible that proposals which were agreed in August took until December to call meetings. Perhaps it is this delay which actually frustrated Black Horse?

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk