www.iva.co.uk

Well, following on from recent events I submitted my new I&E to GT, who agreed it showed a vastly reduced disposable income.

This morning I had a long conversation with their variation team. After going through my figures in detail, it would appear that my disposable income isn't actually modest, it is almost non-existent!

So we are going for a Full and Final, based on payments made to date -- which meet the original anticipated dividend, luckily. However, there is, as always, the possibility that the creditors will re-tweak the figures to reproduce the modest D.I and ask us to continue to term on the reduced amount. I fear that this amount will be so pitiful as to make the IVA unviable from a commercial point of view for GT -- so we shall have to hope we don't need to cross that particular bridge!

I must say that the chap from Variations was very helpful, thorough and supportive, explaining everything in detail as we went along.

Part of me is disappointed that we aren't going to double the original dividend, as it looked like we might have in the first year, but, to be brutally honest, assuming the F&F is accepted (which is by no means a certainty), I won't be sorry to get this particular albatross off my back.

I can't say it is worth what it has cost, but it will be good to be able to rebuild with a clean sheet.

Fingers, toes and eyes are crossed -- albeit I will have to remain this way for 2 months !!!

We'll understand if you don't keep your legs crossed, not advisable for two months [:0]
Best of luck with it mate[:)]

hi foggy, hope it all goes well for you. good luck!!!!! [:)]

Hope it goes your way, good luck x

Hi foggy ..sensible approach and hopefully your creditors will be reasonable and agree to this.

Hi Foggy, sounds like you have a good team behind you there, after everything you have been through and are going through, this would be a massive relief to get the iva concluded for you I'm sure, lets hope GT can come good on this one, keep us informed on progress, which I'm sure you will xx

I have a good feeling about this - I am sure you are going to get the result you deserve after a rough few months. Best of luck!

Keeping everything crossed for u foggy. You spend so much time and effort helping others on this forum, it's about time you had some good luck come your way for a change x

Good luck Foggy, you always help everyone

good luck Foggy x

If anyone deserves it it's you, all the best. x

Best of luck from me too Foggy and I am sure GT will do everything to get the variation accepted.

Just caught up with this post, good luck from me too Foggy.

Little update (updatette?). When discussing timescales with GT back along, for the variation they reckoned the meeting would take place towards the end of July ( after time spent drafting, checking and then the 28 days notice required ).

Found out today it is on the 23rd July (so, on schedule) -- I needed to know, but would have preferred not to, if that makes sense !

Anyway, let's hope at least one of my creditors deigns to vote (preferably in the positive).

So far, so good. GT have been very helpful and responsive. I shall continue to update --- well, I guess, unless something very smelly hits the fan over the next month, there won't be much to say on the subject until the appointed day. Then, hopefully, there will be the closures gauntlet to run

Good luck for the 23rd Foggy...fingers crossed.