No problem Bryn...I'll pop down to my money trees first thing in the morning! Do you want a lend of my Aston too? LOL! Keep up the communication - you can't be faulted for keeping Payplan informed. The wording in the variation doc is unusual, but the variation itself is straightforward from what I remember so we may be worrying about a situation that is highly unlikely to occur. Try to stay positive and take your fences as they come. I'm the queen of worrying about things that never happen...and its all time wasted!
As you write 'we may be worrying about a situation that is highly unlikely to occur'
For sure, but:
a) Due to the lack of communication we are unsure of how likely such a situation is to occur, not least as we STILL fail to understand or have explained to us in a convincing argument (please don't use the 'we did not know how the economy was going to develop at the time you started your IVA' variant again...] the rationale for Payplan's insertion of the BR clause.
b) We should not have to be worrying about anything where a simple explanation could remove the cause of the anxiety. As if it is not bad enough.....
c) It is not just about what might happen in my case - I am prepared for anything now - this has mushroomed much more into a general discussion about principles, transparency and the ability of people to make properly informed decisions on the basis of accurate and properly explained information. I think that my posts have clearly articulated and illustrated the positon on this issue.
Believe me, I am positive. I would not be able to keep banging my head against this brick wall were it not so.....
Last monthly payment made 3 June 2013 after 6 long years. CC issued 21 August 2013, but, er, lost in the post. Finally got it 17 September.
Let's not forget this crap by the way. Any chance of an explanation / clarification on this?????
[extracted from an earlier post]
For the precise wording of my original Chairman's Report I had to access Payplan Plus. It is really just as well that I did, for that brought a further surprise. As far as I was aware until a few minutes ago I was missing April's payment in order to offset my recent car repair bill and the arrears would then be made up over the remaining payments of my IVA, whatever they might be. But lo and behold, I see that that arrangement, verbally agreed with a representative from Payplan over the telephone a few days ago, remember that Lee?, does not now apply. Instead they would like £35,806.21 from me. Well I'll really try and see what I can do, but I'm afraid to say that I can't promise anything at this stage......
Here's the details pasted in from Payplan Plus:
Total paid to date: £46,016.35
Last payment date and amount: 05/03/2012 £760.00
Next payment date and amount: 03/04/2012 £35,806.21
I'm beginning to get a bit of a complex; and all this is so helping me to function on a day to day basis. Thank you so much.
Last monthly payment made 3 June 2013 after 6 long years. CC issued 21 August 2013, but, er, lost in the post. Finally got it 17 September.
I think that this post is getting a little out of hand and is confusing the many people reading the forum who may be considering entering into an IVA right now.
Firstly, Gemma should contact Brokebryn off line and explain directly the Payplan policy on the use of this clause in variation proposals. Variation proposals can only be put forward with the full agreement of the debtor - supervisors of IVAs cannot include their own terms without debtor agreement - and that point at least needs to be clarified for him/her.
Secondly - the terms of most IVA proposals will dictate exactly how the equity release provision is to operate, and under the terms of the IVA protocol there is no need for a variation to be called in the event that equity cannot be raised. For any persons worried about how this will operate in their own case, please contact your IP directly rather than relying on advice from this forum. The posters on here - including myself - are well-meaning but we do not have the detailed knowledge of each case that we would need in giving specific advice.
Good luck with that Rich, you clearly have options if you have offered a F&F and are able to better it if it is rejected first time around. I don't see that I have any options. According to the paperwork it is just variation accepted or bankruptcy. The variation offer was based on a maximisation of contributions calculated from an I and E review undertaken just before the variation proposal was drawn up. I can't do any better than that and thus have no other option.
Last monthly payment made 3 June 2013 after 6 long years. CC issued 21 August 2013, but, er, lost in the post. Finally got it 17 September.
I think that I agree with Mel, I don't want to influence anybody's decision on the basis of my own experiences. So let's call a halt and see what happens.
Last edited by brokebryn on Tue Mar 13, 2012 11:12 am, edited 1 time in total.
Last monthly payment made 3 June 2013 after 6 long years. CC issued 21 August 2013, but, er, lost in the post. Finally got it 17 September.
I hope your variation does get accepted but I fully understand your frustration and stress. It seems to me totally unnecessary to put a bankruptcy clause in every variation and we still do not know who is demanding this condition. We do variations on a daily basis and many are initially rejected leading to some haggling and even resubmitted variation proposals if we run out of time.
If we had this blanket 'bankrupt the rejections' our hands would be tied and it would remove the chance to resubmit or possibly even to try and negotiate a settlement.
I hope your variation does get accepted but I fully understand your frustration and stress. It seems to me totally unnecessary to put a bankruptcy clause in every variation and we still do not know who is demanding this condition. We do variations on a daily basis and many are initially rejected leading to some haggling and even resubmitted variation proposals if we run out of time.
If we had this blanket 'bankrupt the rejections' our hands would be tied and it would remove the chance to resubmit or possibly even to try and negotiate a settlement.
Exactly !!
Last edited by Foggy on Tue Mar 13, 2012 1:42 pm, edited 1 time in total.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks for your support and good wishes about the variation, Michael. As I have said, this is obviously going nowhere further, and I really do not want the thread to influence the decisions of those who are considering entering into IVAs at the present time - as Mel suggests it might be doing - they have got enough anxiety right now. So it's just wait and see.
Last monthly payment made 3 June 2013 after 6 long years. CC issued 21 August 2013, but, er, lost in the post. Finally got it 17 September.
BROKBRYN....it is absolutely shameful that you have been put in this position!!!!!!...I am also with PAYPLAN but have a few years to go!!!! Have you thought about taking legal advice (NO WIN - NO FEE????)...I am sure that a good lawyer would be able to tear PayPlan and/or the creditors to bits???.....ALSO is there not a professional 'body' that they have to answer too....AND then there is always 'THE PRESS'!!!!!!!....best of luck.
still no comment from payplan on there position reguards why they put this bankruptcy clause in off there own backs.just to be sure brokebryn is there any funds held back in case they want to make you bankrupt.
cc received 6th January 2014 now upwards and onwards
Brokebryn has said that he wants to call a halt to this thread so I think we should respect his decision.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
At the moment no - hopefully we will get some answers soon but best to leave it for now.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
