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Posted: Tue Nov 17, 2009 10:53 am
by becca21
Just a quick bit of advise if poss.
I am awaiting my creditors meeting as some of you know on 27th , in my propasal it says i am offering the creditors 41p to the £1. is this a good case?? just nerves are kicking in now!
Posted: Tue Nov 17, 2009 11:02 am
by Michael Peoples
Hi Becca. The actual percentage return is not as important as whether or not it is a good proposal and your best offer. As it happens your proposed dividend is slightly above the average return and if your IP is happy to send it to creditors he/she must be confident of acceptance. Best of luck with the meeting.
Posted: Tue Nov 17, 2009 11:06 am
by becca21
thanks! x
Posted: Tue Nov 17, 2009 1:40 pm
by Teresa
Becca we were told that most companies are happy to accept 25p in the pound unless you have hsbc who apparently will always want 40p. So sounds to me like you are fine.
Posted: Tue Nov 17, 2009 2:20 pm
by MRBLUESKY
excellent offer becca21,mine was 31p and sailed through.
Posted: Tue Nov 17, 2009 2:24 pm
by becca21
i think i am panicking a bit because i have only recently got my car on finance because my old one blew up! so i'm not sure whether this is going to go against me and thats why my offer is high! could this be the case or am i completely wrong?? heeeelp
Posted: Tue Nov 17, 2009 2:29 pm
by Michael Peoples
Your offer should depend only upon affordability and not any other factors. If you recently changed your vehicle this is not necessarily going to lead to a rejection by creditors provided what you bought was reasonable and needed for work.
Obviously if you went out and bought a Porsche and then tried an IVA creditors would not be too impressed but if your IP is happy to propose your IVA you should try and relax as they would not put forward something that they believed would be rejected.
Posted: Tue Nov 17, 2009 2:34 pm
by becca21
well it's certainly not a porsche!
thanks michael i wil leave it to the pro's now and wait for the 27th!
Posted: Tue Nov 17, 2009 2:36 pm
by Michael Peoples
Good luck Becca but I am sure you will not need it.
Posted: Tue Nov 17, 2009 2:41 pm
by Shining
Good luck becca, they wouldn't be putting it forward if it wasn't your best offer and consider how much work they need to do prior to acceptance and I'm sure you'll agree they want a positive result on the day too. I'm sure it'll be fine and the return is a good one.
Posted: Tue Nov 17, 2009 3:33 pm
by ontheroad
Good luck becca, not long now, fingers crossed everything will be fine as im sure it will be.
Posted: Tue Nov 17, 2009 4:50 pm
by kallis3
41p is a good dividend to offer, but as Michael says, it is about affordability.
A lot of our posters just lately have been accepted for a lot less than that.
Posted: Tue Nov 17, 2009 4:53 pm
by SUNNY2MORO
Hi Becca, we changed our car on HP just 2 months before our creditors meeting & it caused no problem at all.
Our dividend is 25p in £1.00 so please don't worry, I am sure you will be absolutely fine xx
Posted: Tue Nov 17, 2009 4:59 pm
by becca21
Oh good thanks everyone! you all help so much! it's just good to get some idea of other peoples situations. we shall see 1 week 3 days and counting!
x
Posted: Tue Nov 17, 2009 5:25 pm
by kallis3
You will be fine becca.