Once all your stuff is in I don't think it's too long until you get your proposal through. Once it's signed and sealed and sent back it should be a couple of weeks before the meeting.
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
Debt is a horrible thing and we can all look back and wish we hadnt have got ourselves in such a mess in the 1st place but we are where we are.
Remember, always do research on all debt options before you commit (made that mistake so I'm only passing on experience). Read all the pros and cons. Example - IVA, anything over what you agree to your budget you have to pay the IVA 50%, so if you get £100 on over time or bonus, you have to give the IVA 50% of it etc etc etc. You have to try and re-mortgage your home in the 4th year etc etc. My advice is ask Melanie Giles because I have read a few blogs and have also been given advice by them (and there not even my IP) or give the National Debt Helpline a call. They too give great info and help. Good luck friend but remember to do RESEARCH b4 you sign up to anything!!!
Lee - it depends upon your own personal proposal with the overtime etc. The vast majority these days say that you keep the first 10% over and above your normal wage and then hand over 50% of the remainder.
If you can't remortgage your home, which none of us can at the moment, the IVA normally carries on for a further twelve months in lieu of the equity.
We always recommend that people visit www.iva.com for a list of companies and reviews and give several a ring for free and impartial advice.
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
I am aware of the pros & cons and costs and believe you me anything is better that what we've literally been battling for god knows how long and seeing no end in sight but nevertheless really appreciate your thoughtful advice to help me... i'm convinced that unless you come into money the loans and card repayments are structured in such a way to make it nearly impossible to pay off once your borrowing is above a certain threshold..
I will make sure we go through everything again thoroughly with you before your proposals are finalised - in particular the uplift provisions regarding income. Glad to see that the paperwork is now all coming together.
Well folks it's finally here, my big day. I have the creditors meeting in the next 30 mins and good or bad I'd like to thank you all for helping me through this. THANK YOU!!
Just had the news.......It has been accepted!!!!!! albeit with a modification (which i was kind of expecting) but fantastic news nevertheless. A big thanks especially to Claire from the Melanie Giles team and yet again to all you guys... 3 months ago I was struggling to see a clear route but eventually I've made it. I can only hope that other people can take heart from threads like this that there is an ending, or as I should say "A start of the end".
Well it was either a bottle of wine to celebrate or toilet water this morning before the creditors meeting; safe to say I'll be leaving the toilet alone ..
