www.iva.co.uk

My variation meeting was held today and I am very glad to say that the creditors have agreed to a 12 months extension in lieu of equity. It is such a relief after the treat of bankruptcy being brought into the equation. At last I can see light at the end of the tunnel.[:)]

Fantastic news for you at last !! Were too with Payplan and started the ball rolling over our equity. I just sincerely hope that we don't have enough and finish next year, I honestly don't know whether I can cope for another year

Thank goodness for that Country Girl and Debbie I will keep my fingers crossed for a low valuation for you x

Hi

That is great news and must be a great relief

Regards

It is indeed thank you Andy.

Footiemad valuation was done last October I knew there would be a lot of equity but it has taken this long to sort out and the 12 months extension was by no means guaranteed. The alternative was possibly bankruptcy.
Thank you to you and Debbie for your support.

Congratulations from me too. However I wish those IP firms threatening bankruptcy in the wording of their variations would temper this as it causes clients more stress than is needed.

Thank you it has caused me a lot of stress to be honest. I know people on here were telling me it would be ok but you cannot help but worry especially after coming so far for 5 years.
8 more payments and it will be over.

Excellent news - it's been a long journey for you, but I guess all is well that ends well!

Yes thank you Melanie- you were right about the creditors accepting this. Thanks for your advice. Only 8 more payments to go!

Still this goes on

Although I asked for confirmation by email that this had been agreed by the creditors as yet nothing has been received. I went on Payplan plus today to make my monthly payment and it is still showing that my equity payment is outstanding.

Payplan seemed determined to cause me as much worry as they can over this, I have really had enough of them.

After an email to Payplan I have now received the paperwork confirming the variation in the post.

One thing that is interesting is that the only creditor who voted against this was Max Recovery who bought my debt to M&S. Fortunately they held a smaller amount so were out voted. It would appear they take a much harder line.

I would just like to add what a life line this forum has been to me including the advice and support offered. Thank you all.

You should have received a copy of the Chairman's report of the creditors meeting within 4 days of it being held.

That's interesting Melanie, I didn't it was dated 25th July so it was not prepared until I asked for something in writing, the meeting was held on 15th July but at least it was sent 1st class post!

I know I am a worry guts but I feel so much better now that I have received something in writing.

Let's hope you can put this IVA firmly behind you very soon, country girl. It has been a very rocky road for you.

Thank you Melanie. I must say I am really loking forward to next February.