does my iva have a good chance?

[pebbles2003]

Hi

I am in the process of the iva. My proposal has just been issued and the creditors date is the 11th June. The dividend is 30p.

I currently owe the following:

A&L 10.5K
Argos 0.3K
Egg 9.8K
Great Universal £90.00
halifax £ 2.5K
Hitachi .8K
Morgan Stanley 2.5K
MBNA 5.7K
Monument 2.5K
Sainsburys 2.8K
Approx 36K

My IP Grant Thornton have told me not to make any more payments to creditors before the meeting. However my phone never stops and when I told them this, they get angry, agressive and unpleasant.

Have Grant Thornton given me duff advice and is the iva more likely to go through if I give the creditors one last payment?

Has anyone any advice for dealing with the phone calls? the stress is horrendous and Im finding it really hard. I work as a finance manager and the prospect of the iva failing and going bankrupt fills me with dread and I could lose my job.

Does anyone think my iva has a good chance of being accepted?

Any help or advice would be greatly appreciated.

[Adam Davies]

Hi
You have a good IVA provider in Grant Thornton and the advice to stop paying creditors is sound.Do not waiver from this stance no matter how many calls that you get.If one particular creditor is causing you problems then phone them[the creditor] on a daily basis if you can, and just update them[it will stop them calling you each day].
Egg have the deciding vote in your proposal but from memory they are receptive to IVAs and do not have a silly minimum dividend of plus 40p.
Good Luck

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

[louiseh]

I would definately stop paying. If you continue creditors may wonder if you can still afford to make payments why do you need an IVA. I am also using Grant Thornton, I made token payments of £5 to creditors. I haven't paid the full amount for 3 months now. Some creditors have been really harrasing but I've stood firm and I think they now know that I will not be talked into making a payment. The usual phone calls starts I'm phoning from xyz to take a payment of x pounds from you today. I stop the conversation and clearly state that I will not be making a payment because.. all money is going into my first IVA payment and I can't pay IVA and creditors, if I could afford both I wouldn't need an IVA. They usually just say they can't stop calls and letters until they have received proposal, and just keep us informed.

Good luck with your creditors meeting.

[pebbles2003]

Thank you for your advice, its a big relief to hear some encouragement and hope in these dark days!

Any tips or advice is always appreciated.

Kind regards
Dawn

[aguise]

Hi Dawn
Stand fast and do as your ip told you it is the norm, rotten to put up with but hopefully not for long, look through some of the old posts entitled phone calls (put it in the search) and you will find loads of tips on how to deal with the calls.
All the best

Ang

[aguise]

Hi again look at the one entitled phone calls by baz36 on page 2 of there search. Admin may help and add it hopefully.

Ang

[:)]
http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=1300
added by admin

[keh]

Hi Dawn

You can always tell them politely that your in the process of an iva and give them the name of your IP and that if they continue to phone you, you will report them for harrasment.

only an idea mind

Keith

The long and winding road will straighten out eventually....keep the faith

[pebbles2003]

Thanks everyone! This site is great, the people are so nice and the advice really helps!
Thanks again.

[Oliver]

From the information provided I would say that as long as you are putting forward your best offer to your creditors, then your proposal has a good chance of being accepted.

All the best with everything and please let us know how you are getting on.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[iva_squirrel]

Good morning Dawn,

I agree with Oliver. I am sure your IP would not recommend an IVA to you unless they felt it had a good chance of being approved. Your creditors will expect to get a better return than they would from making you bankrupt, and your payment proposals should reflect this. They will also benefit from the fact that your IVA will be monitored independently.


Good luck with your creditors meeting.

All the best,


Julia

For more information about IVAs, please visit my website:
www.supersonicsquirrel.net

[MAY2006]

Hi Dawn
I used Grant Thornton they were very good. I only paid £5.00 token payments for nearly 6 months until the IVA went through.
Change your phone number and go XD then your creditors can't ring you.

[iva experts]

Hi Dawn,

As other experts have stated, I’m sure your I.P would not have taken your case on if they thought it would be rejected. They have an interest in it being accepted also as this is how they get paid.

May2006 - I'm a little concerned as to why you’re IVA to 6 months to get through, were there particular complications?

Best Regards. IVA Experts

[pebbles2003]

Hello
Thanks for your replies! The iva seems to have taken forever. It started off 20th March and now the meeting is scheduled for the 11th June. I think Grant Thornton have been innudated with them of late. They have been very good so far, each email I have sent with queries has been responded to very quickly.
Im just praying for a good result!

[tracy.h]

Hi dawn not long to go so hang in there,im sure you will be fine.
Grant Thornton has a good success rate and as others have said do not think he would have proposed iva if he didnt think you would be excepted.
good luck let us know how you get on

Tracy

[pebbles2003]

Hi Guys

Only a few days to go until my creditors meeting...

I had a call from Morgan Stanley today who were calling just to say they had received the paperwork from Grant Thornton and had returned it, and were calling to say this was the last contact I would receive from them. I asked them if they could tell me how they voted and they confirmed a yes vote.
They were very very nice!
1 down, 9 creditors to go..just praying for a good result on Monday.
Will keep you posted!