I thought that might be the case Josie - in which case you are in good hands and I am sure they will try and work some magic for you. As I said in earlier posts, the Irish banks can be difficult to work with, but in my experience persistence usually works in the end. I have had to represent several NI based IVA proposals myself this year, but always got them accepted second time around.
Ive had a similar experience recently in NI and Melanie Giles and Phillip Gill worked diligently in getting the bank to vote in favour of my IVA so dont give up hope with your IP. Anyone else in a similar situation thinking of an IVA should make one call only and thats to Melanie Giles.
Thank you for posting those nice comments Hey Mr Bank Manager. I am glad that your experience with us has been a positive one - we do like the occasional challenge, and Phil will never be beaten by an Irish bank!
Am I glad I did not criticise your IP!
I do not personally know the case and I am actually off on leave this week but I know we will do our best for you. It is good that you are meeting with your IP as many firms wash their hands of clients once there is a problem but we will never do that. I will keep my fingers crossed but you have a great team behind you.
Good luck with your meeting Josie.17 I am sure you will find a suitable way forward asap.
Lovely comment about Melanie Hey Mr Bank Manager, its often what a company will do above and beyond the normal call of duty that sets them apart from others. Melanie is never one to give up!
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
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Just a follow up on what’s been happening? The IVA proposal was rejected. In addition to the proceeds from the sale of the marital home estimated to be £44K the bank wanted an extra £21K to close out a FF sum agreement. We are already in a lot of debt to our close relatives - £147K to one imparticular and smaller amounts to others. We cannot raise the extra amount.
We really thought the initial proposal of a FF sum with the proceeds of our home plus the return of the property portfolio to the bank would be adequate We were led to believe that the bank would not have voted against the initial proposal but they have. The IVA practitioner has said that the bank wants 13p in the pound which would, I think, equate to the sums above.
It seems the only way for us to go now is bankruptcy which we were so reluctant to do. Bankruptcy seems to me like a lose-lose for the banks as well as ourselves, but appears to be the only course of action open to us.
Sadly my husband and I are separating due to the obvious stress brought on by our financial difficulties. We had wanted to do this finally and quietly after the IVA process was over but we have now declared it as this will obviously have an impact on our expenditure since we will now have two households to support since we still have two younger children at home and two older children to support for a further 3 years at university.
The IVA practitioner seems very distant at this stage as if they have done all they can and there is nowhere to go now.
Again can’t express how stressful this whole situation is. Would just like it to be over with one way or another.
I would be grateful if the experts on the panel could give any further advice or ideas as to how to progress. Thanks
