www.iva.co.uk

Hi. Our IVA proposal meeting has been called for 8th July. This was called on 22nd June. I am concerned by two things:

1) This doesn't seem to allow the 6 weeks notice to our creditors

2) Our IP has proposed a payback of 29p in the pound. Our highest credit amounts are with the Halifax and I have read they accept a minimum of 40p in the pound.

Should we be worried? Thanks for your help!

Good luck for the 8th. I don't think there is a specified period of notice for a meeting. Some IVAs have been within a week or two in the past.

As far as I am aware Halifax don't have a minimum figure. HSBC have been known to ask for 40p minimum but that's the only one I know of.

Thank you Kallis3! That puts my mind a little more at rest!

The general period between you being happy with your draft proposal and the date of creditors meeting is 3 weeks, so you have no fears on that score.

As Jan says, Halifax have no minimum dividend level so that is not an issue either.

Good luck and let us know how you get on.

Regards.

One of the professionals will advise further but I am sure you will be ok.

Thanks again everyone! This forum is amazingly supportive.