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Posted: Wed Oct 03, 2007 8:48 pm
by Lisa2009
Hubby had an email today saying they are waiting for the variation report to come back from the supervisor for F&F and this will be sent out for his approval. What is that and what does it mean?
Posted: Wed Oct 03, 2007 8:57 pm
by mikebdomain
Just had to say, Hi Mrs Skint - some information about the report
The report will contain details of the revised offer to creditors and a statement showing the anticipated return to creditors. The report and statement will compare the original return with the revised offer, and the Individual Voluntary Arrangement (IVA) Supervisor will comment and give their opinion that the IVA variation represents a fair offer to the creditors.
The Individual Voluntary Arrangement (IVA) Supervisor is required to give a minimum notice period to creditors of 21 days to the creditors of the variation meeting, although this period can be as much as 28 days depending on the terms of the Individual Voluntary Arrangement (IVA) proposal.
A majority in excess of 75% of the creditors voting is required for the Individual Voluntary Arrangement's (IVA's) variation to be approved.
Hope it helps I borrowed it from a website
FREE ADVICE IS THE BEST ADVICE
LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.
see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf
Posted: Wed Oct 03, 2007 8:59 pm
by Lisa2009
As always Mike, thanks you are a star [:D]
Posted: Wed Oct 03, 2007 9:04 pm
by Lisa2009
Does that mean this could all be over very soon if they accept? Sorry to sound a bit dumb. Hubby says its because im blonde.
Posted: Wed Oct 03, 2007 9:07 pm
by mikebdomain
You don't sound a bit dumb - to be honest, I am not sure - about the being blonde bit, or the email...
FREE ADVICE IS THE BEST ADVICE
LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.
see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf
Posted: Wed Oct 03, 2007 9:08 pm
by Lisa2009
[:D]
Posted: Wed Oct 03, 2007 9:08 pm
by Adam Davies
Hi
Yes,you will have an answer on the day of the meeting,if accepted you stop making any further payments and release the funds to your IP.They will then conclude your IVA[this may take upto three months]
Fingers crossed for you but I am very confident that it will be accepted.
Regards
Andy Davie
IVA.co.uk Spokesperson
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Posted: Wed Oct 03, 2007 9:10 pm
by mikebdomain
ditto - fingers crossed
FREE ADVICE IS THE BEST ADVICE
LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.
see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf
Posted: Wed Oct 03, 2007 9:11 pm
by Lisa2009
Thanks Andy and Mike much appreciated
mrs skint[:D]
Posted: Wed Oct 03, 2007 9:13 pm
by mikebdomain
[:D] have you noticed Andy looks a little blonde...
FREE ADVICE IS THE BEST ADVICE
LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.
see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf
Posted: Wed Oct 03, 2007 9:14 pm
by Lisa2009
Which 1? LOL
Sorry Andy, hubby gets the same jibes [:I]
Posted: Wed Oct 03, 2007 9:14 pm
by mikebdomain
LOL
FREE ADVICE IS THE BEST ADVICE
LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.
see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf
Posted: Wed Oct 03, 2007 9:24 pm
by Lisa2009
Sorry Andy, hope i didnt offend
Posted: Wed Oct 03, 2007 9:25 pm
by mikebdomain
Ditto - again
FREE ADVICE IS THE BEST ADVICE
LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.
see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf
Posted: Wed Oct 03, 2007 9:57 pm
by Adam Davies
Hi
Hows those Northern Rock shares Mike ????
Regards
Andy Davie
IVA.co.uk Spokesperson
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp