www.iva.co.uk

We had our creditors meeting on Monday and the initial result was a rejection from NR ( 56% of the debt - so a must )

Our IP then managed to have a long chat / negotiation with them - so by the end of the day they had decided to accept the proposal - but with some changes / alterations ( still not sure what these will be )

At the end of the day the proposal was adjourned for a week so that NR could re brief agents/proxies .

So hopefully come Monday we will be back on track. I must admit the few hours between the initial rejection and the second call saying that they will now go ahead ( all be it with some alterations ) was not a good time

will update on Monday !!

Glad to hear your IVA is to be accepted. Even after a rejection it is always worth going back to the dissenting creditor and trying to negotiate as the IP would not propose an IVA that he/she did not believe was the best offer from you to your creditors.

Brilliant Gord, sounds like you IP earned their money. Hopefully no problems in wrapping it up this week.

hopefully NR wont come back with anything too draconian in the way of the I & E .

I envisage a 6th year perhaps - It will be nice to get this all in place so we know where we are .

Great news. We will make sure this is sorted out for you by next Monday.

Yeah, a few on people on here have reported NR as a reject and then later returned with a 6 year modification. Even so, for your security and peace of mind it will be great result. I am in a similar situation with NR them with being 30% of debt (creditor meeting - 8th May).
Let us know how you get on next week Gord.

Fantastic news Gord - well doene!

Thanks all - and to Melanie and her team and to Hywell who managed to get to the bottom things and bring NR back on board . I think he said he was on the phone with them for quite a while fighting our cause .

You're with a really good team and I'm really glad it's working out for you. Ours was accepted last Monday with NR going for a 6th year.
Good luck for Monday and let us know once it's all sorted.

P x

well there you go - just took a call from Hywell who works with Melanie and the proposal has now been accepted - The only change is that NR want 6 years as expected - but no real increase in payments except a £10 increase . In fact none of the budget things I was worried about got chopped - so we have what I think will be a liveable budget that we can stick to - as long income levels remain the same .

so the end of one chapter and now the beginning of another - pay the debts - and strive to become debt free and take control of things .

Thanks once again to all who has given support through posts and knowledge and also to Melanie and her team for their expertise

It has been out pleasure - and we are very happy with the result, notwithstanding the need to extend to a sixth year.

Fantastic Gord!

We're both starting on our 6 year journey together then. Keep posting to let us know how you're getting on!

P x

Congratulations Gord and once again,well done to Melanie and her team.

yes Melanie it is a great result .

Thanks Pap - we both had our creditors on the same day - all be it I am now a few days behind you !

Wow Gord, that was fast. Well done to Melanie's team. Wonder if NR apply the 6th year to all applications. I have a £25k loan, which I have already paid £13k in payments. After 5 years in an IVA at my payment and divident level, they will have received another 12k. So that is 25k. Of course none of this includes the interest. Hope they will settle on the 5 year.