www.iva.co.uk

Hi Guys

I have gone through Grant Thornton to apply for an IVA which is now at the stage where it has been sent to the creditors meeting team and I have been told that they will phone me in due course with more info. Does anyone know how long I should wait for a call back and what happens next?

Hi Sinton!

I'm not sure what Grant Thornton's procedures are, so the best thing to do would be to phone and ask them how long it will take to arrange a meeting date. Much better than sitting by the phone!

Thanks liamjames I have just phoned Grant Thornton and they advised they need to photocopy the documents then get them sent to the creditors and will call me with an update asap.

Hi,

Im with GT...they should let you know when the creditors meeting will be, and they will phone you with a decision after its been held..

I am also with GT, when are documents were sent off to the creditors there were 28 days until the meeting was called.

I think that is the notice required.
On the day they called us with the result.

Thanks everyone. Hopefully the wait to hear back from them wont be too long. 28 days seems a long time I thought they only got 2 weeks?

As far as I'm aware thats the notice required to creditors for them to make their decision. Someone might be able to tell you for definite???

I can recall 28 days being mentioned to us about the meeting.

I had my telephone meeting to discuss my proposal last tuesday and I signed and sent it off the same day. I was told the creditors meeting would be in a month's time.

That seems an awful long time to wait when they only need to give 16 days notice to creditors.

That was quick. I have just received a letter from Grant Thornton advising our creditors meeting is on 10th December. Fingers crossed all goes well.

Yes 16 days is the normal period of time given to creditors to make their decision. I'm glad it's all booked for you Sinton and please let us know how it goes on the 10th.

Good luck

If our creditors meeting is on the 10th December and one or all of the creditors reply with their vote before this date do we find this out or do we still have to wait until the 10th?.

Hi,

You still have to wait until the actual date.

Fingers crossed sinton, good luck and hopefully 2011 will be the start of a good year for you and your family.

Most sensible IPs would not discuss voting positions with their clients prior to a meeting, as creditors could change their minds at the last minutes and a client could end up being very disappointed.