Just a quick bit of advise if poss.
I am awaiting my creditors meeting as some of you know on 27th , in my propasal it says i am offering the creditors 41p to the £1. is this a good case?? just nerves are kicking in now!
Hi Becca. The actual percentage return is not as important as whether or not it is a good proposal and your best offer. As it happens your proposed dividend is slightly above the average return and if your IP is happy to send it to creditors he/she must be confident of acceptance. Best of luck with the meeting.
Becca we were told that most companies are happy to accept 25p in the pound unless you have hsbc who apparently will always want 40p. So sounds to me like you are fine.
i think i am panicking a bit because i have only recently got my car on finance because my old one blew up! so i'm not sure whether this is going to go against me and thats why my offer is high! could this be the case or am i completely wrong?? heeeelp
Your offer should depend only upon affordability and not any other factors. If you recently changed your vehicle this is not necessarily going to lead to a rejection by creditors provided what you bought was reasonable and needed for work.
Obviously if you went out and bought a Porsche and then tried an IVA creditors would not be too impressed but if your IP is happy to propose your IVA you should try and relax as they would not put forward something that they believed would be rejected.
Good luck becca, they wouldn't be putting it forward if it wasn't your best offer and consider how much work they need to do prior to acceptance and I'm sure you'll agree they want a positive result on the day too. I'm sure it'll be fine and the return is a good one.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
41p is a good dividend to offer, but as Michael says, it is about affordability.
A lot of our posters just lately have been accepted for a lot less than that.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
