www.iva.co.uk

Has anyone had an IVA rejected or had any experience of why it would be rejected.My main debt is with LloydsTSB,has anyone else dealt with them? Thanks for all previous advice,I am finding this forum very comforting to know there are others out there with whom you can share problems as I do not wish to discuss things with my family!

Hi, Welcome to the forum. Yes, a large proportion of my debt was with Lloyds TSB credit card and overdraft.

Although I stopped payments to them in the preceding 2-3 months they voted in favour of my IVA. I got the annoying call centre phone calls from foreign call centre but they soon stopped after I told them I was going through IVA.

Good luck with your IVA. IVA's once put forward by your I.P are rarely rejected as the IVA firms have vast experience of submitting proposals that are acceptable to the creditors. What stage are you at Beezie?.

Hi Beeziemaisie,

Welcome to the forum - its always great to see a new face! [:)]

All creditors have criteria they work to so if your IP is putting forward the proposal they must be confident of it succeeding!!

It is nerve-wracking and I don't think anyone ever thinks their proposal will be accepted; but the vast majority are.

I actually knew for an actual fact that my proposal would be turned down...right up until my IP called to let me know it had been accepted. LOL

Where in the process are you?

Hi,

I am sure there will be no problems with your IVA. Lloyds are known to be supportive and your IP would not put the proposal forward if they didn't think it would be accepted.

You can share anything with us.

DRD have all my paperwork and have paseed it to the IP to prepare case.Am awaiting a phone call from them and I assume will receive a copy of proposl to approve in post from them.

Thanks winterblues for replying on my other post,I have got confused when registering and seem to have two profiles now! But will be sticking with this one.

You will have a proposal come through and you need to check this carefully before signing and sending it back.

If you have any queries then speak to your IP and of course you can always come to us for support.

All the best and as Kallis says once you receive your proposal, check this through and sign it and when it's signed and returned you'll be getting your meeting date. Do keep posting. x

How long roughly is the meeting date after the proposal is returned? Thanks

It's usually 16 days from the date of return as far as I am aware.

Hi,

I am sure you will be fine, we are just a bit ahead with meeting set for 14th March. Lloyds TSB have over 50% of our debt so I will let you know the outcome but I have heard they are supportive xxx

It does seem that iva proposals rarely fail nowadays-the alternative of bankruptcy does mean creditors not receiving a fair return on their money and dmp extends the amount of time that creditors get their money-so iva does seem the favourable option for creditors.

Hi Paula,

It's best to ask your IP- some companies give creditors a little longer, but 16-21 days is quite common.

Very few of our IVAs are rejected so unless you have been advised that there is a strong risk of rejection I would try to stay positive!

good luck with your iva journey

Hi & a warm welcome to the forum from me too.

When you get your proposal have a really good read through it & make sure you understand it all. And don't be afraid to phone up your IVA company & ask questions, or post on here anything you do not understand.
I had not found the forum prior to my IVA n must of phoned our IVA company a dozen times asking questions before I signed our proposal.

Good Luck with the proposal n let us know how you get on.

Hi and welcome from me also.

Lloyds TSB also had the majority of my debt with a loan, overdraft and credit card.

They voted in favour of my IVA and I was lucky as they never really bothered me with letters, phonecalls etc.

Wishing you well on your journey.