Reading several posts lately about iva proposals being rejected at creditors meeting.
Is it getting more common for creditors to refuse?
are there so many people nowadays entering ivas that creditors are refusing to accept them?
We have our meeting in two weeks time and our dividend isnt much due to our circumstances and just worrying it will get declined.
so much work has gone into it and i desperately want it to get accepted but so worried that creditors wont go for it and will want more.
Do most meetings result in modifications?? I dont know what we could do as already tight.
Hi so long as the best offer is on the table it's all you can do and have faith in your IP. Lots are accepted with no modifications or no modifications that affect the client it can usually be in respect of the IP fees.
Hang in there have faith and hoping for a positive outcome for you.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I don`t see the logic in rejecting IVA`s unless they`ve been poorly drafted. There again you could be in the situation where one *rsy creditor can upset the applecart.
Ours was rejected initially on a stupid technicallity and fortunately the IP and we were able to
pick their argument to pieces.
Last edited by Hyperdrive on Thu Mar 21, 2013 9:51 pm, edited 1 time in total.
Its totally normal for it to seem like lots of refusals are happening just before your own meeting but reality shows its very rare for creditors to turn down an iva.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
human instinct is to look on the negetive, just look at review sites like trip advisor, its human nature to leave a negetive review but not many leave a review when something is positive, i am sure youll be fine and wish you all the best
