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Hi all, we have just had our draft proposal which states we can pay 18 pence in the pound. I am worried - is this enough? Do you think it will be accepted?
TIA!!

Hi
Yes, if it is the best deal on the table and a better return than bankruptcy then your creditors are very likely to accept it
Regards

Thank you [:)] That has made me feel better!!

Hi Worryface,

Im sure your IP would not have drawn up a proposal, unless they were certain that it had a good chance of being accepted by your creditors.

Gd luck.

I agree, your IP wouldn't be putting your proposal forward if they didn't think it would be accepted.

Good luck x

Good luck from myself too, so long as the best offer is on the table, creditors should look at it favourably. x

Hi Worryface

My proposal was for 17p in the pound and it was accepted.

Helen

mine was accepted at 11p to the pound. try not too worry to much

Mine was 15p and was accepted.

Thank you, you have all put my mind at rest, I got myself all worried there for a minute. We shall sign the proposal and send it back! Does anyone know how long it should take once we have signed and returned it?
Thanks all!

It shouldn't take too long at all. Once the IP has the proposal back they will convene the creditor meeting.

There will be plenty more worrying before the end of your debts but we are always here to help out even if its just to listen.

Paul

Your IP should call the creditors meeting as soon as they receive your signed proposals - so I would guess around three weeks to the creditors meeting from now.

Don't forget to tell us how you get on!

Hubby's and mine interlocking one is 11.64p so yours is huge compared to ours, and ours went through OK.

Pandy wrote:

Hubby's and mine interlocking one is 11.64p so yours is huge compared to ours, and ours went through OK.

Can I ask who you went with to get 11.64p accepted ?

Thank You