www.iva.co.uk

We have finally heard back from GT re possible variation/modification to our proposal. we have to send in a a new narrative to explain how things are done but i'm worried that our repayments will drop below the 25p in the £1 threshold. Are creditors likely to vote yes for the modification bearing this in mind or are they likely to accept it knowing that they will get the full 50% of hubby bonus (at the moment we are having to use it to get by)

Lou

Still smiling....

How long has your IVA been running for?

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Approx 16-18 months (not sure exactly how long) but there is not a 2 year variation clause like there is with some IVA's.

If you have paid for that long, I do not feel that the 25p in the £ has any real significance at this stage. If GT are prepared to put this forward for you, rest assured you have the best chances of getting it accepted.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi Louisa

I think we don't really consider IVA variations as we are still frightened of them as tools to use if circumstances change!

Thanks for the support & advice. I'm going to get everything up together for the them to draw up the draft variation/proposal and I soon as we get hubby's docs advising him that he is being deducted £50 for writing off the car then we can go go go!