www.iva.co.uk

Hi,

We have our creditors meeting next week and we have just received a letter from Northern Rock saying that they are going to add an administration charge of £64 to our account to cover the costs of voting. Is this normal procedure? can we expect all of our creditors to follow suit and add on extra charges prior to our IVA hopefully being approved?

Thanks

Jo

I've not heard that one before! None of my creditors did that. The only thing extra we had was a 'drive by' valuation by our building society, which cost us £65 and has been added to the mortgage.

No I haven't heard anyone mention this before on the forum either. I wonder if it is a new policy with the amount of people entering into IVA's at the moment?

I'm not sure of the amount of administration involved with voting but I guess if they are going to vote yes then it will be worth the fee in the long run!!

Jo

Thats a bit of a naughty way of getting money out of you. They will do anything wont they

I know!!

I'm not really in a position to challenge it either so I suppose I should be grateful that it's just £60 and not £600!!

I'll be absolutely gutted if they vote no and charge us for the privilege.

Jo

I have not heard of this practice before, but it is unlikely to disturb the dividend you are offering in any great way so I would just ignore it and hope that they vote "yes"!!

Thanks Melanie, fingers crossed for Wednesday!!

Jo

Good luck for Wednesday bettyboop!

Thanks Kallis,

Wednesday can't come around quick enough for me, just don't know what we'll do if it's a no!!

Trying to stay positive though, I know if anyone can get a positive result for us it's Melanie and her team, I know we are in safe hands!!

Jo

That feeling of relief is fantastic! I was on a high for days afterwards. I love waking up not thinking about how I'm going to pay my debts, and being able to answer the phone and not worry about the postman coming.

I had one of those from Northern Rock. I did what Melanie suggests and ignored it. If it's any consolation, I got this letter and they voted "YES", so hopefully will do the same for you. Good luck.

I got same letter too from NR and it really worried me...
However they voted YES so all ok in end!
Good luck [:)]

Thanks for your replies Til and Davram, It's comforting to know that you both had positive outcomes from NR following these letters.
Just hope that we will get a yes on Wednesday!!

Jo

bettyboop, just wanted to wish you all the very best of luck for Wednesday. X

Thanks Viki,

Wednesday will hopefully bring an end to months of worrying and a fresh start for my family.

I'll keep you posted on any news!

Jo