www.iva.co.uk

Hi everyone,

Sorry, started as a quick post, then got carried away![:)]

So the creditors meeting is tomorrow, 3 votes are in so far with modifications..

TIX-Lloyds (73%) - reduce fee to £1k

Watch PM - Post Office MC (8%) - increase payments by £25 (work meals), variation fee £400, daughter to pay board when she turns 18 (15 now) and a few others which are for the IP

MAX recovery (less than 1%) max term must not exceed 72 months (not a home owner so wasn't sure about this one?), not allowed to take out insurance to cover the debt - and a few others which are for the IP

So.. I've said I'm happy with the Lloyds one... but have asked if I can wait until tomorrow before making a decision on the other 2 in case my other creditors vote; Barclays (17%) & Next.

I'm assuming if the others don't vote I would have to accept the Post Office to hit the 75%? Would that be right?

10:15 is the deadline tomorrow so I'm hoping I get a straightforward yes from Barclays!

Also had some news my child benefit is stopping due to partners income (not father of said child) told SC about this and they basically said I have 2 choices, postpone meeting and they would need all partners income/expences (which he won't do - not his debt/before his time) or let it go ahead and take the hit in other areas. As I want this done I agreed to the second option... but now worried I shouldn't have!

Any opinion/advice appreciated as always

This time tomorrow I could be in an IVA!!!

I would suggest the meeting is adjourned until everything is cleared up Your IP can do this for up to 14 days and with the reduction in child benefit there should be a similar drop in IVA payments. Your partner is right to say he will not provide his details and confirmation of the removal should be sufficient.

Agree with Michael ... Don't start an iva that already has potential issues ... Another small delay will be beneficial in the long run and more affordable ...

Thanks both, I'm probably too impatient for my own good, as the change hasn't happened yet could I wait until it does then request an amendment? Or would it have to wait until review time. Really just want it all in place.

q agree with micheal

IVA accepted... I know I should have probably adjourned but feel so relieved its done. I had pretty generous allowances so happy the payments are realistic even without the child benefit.

Payments commence Jan pay day, I even got to keep my Xmas savings pot so I can relax and enjoy Xmas! Start the new year afresh no more juggling card payments, such a relief.

Thanks to all the advice on the forum its been a massive help over the last few months!

Kerry #128522;

Well done Kerry -- we are always here to help over the ups and downs

Thanks Foggy!

If you do suffer a drop in income you can always ask for the IVA payments to be cut by up to 15% without another meeting of creditors or an extension. Hopefully this will be a good enough buffer if needed.

Congratulations on the approval.

Fab news and you're happy that's the main thing. Enjoy Christmas and the New Year will bring on your journey to debt freedom.

Great new, enjoy Christmas and good luck on your journey

Great news and at a time of year when many are funding xmas on credit cards!!

A debt free future awaits you.

Paul

great news have a fab xmas

Pleased for you x

Thanks All.

I got my Chairman's Report today... Which I have had to call SC about as its wrong! They list a modification which was rejected and have an incorrect statement about a call on the 10th NOV from a person I never spoke to! I have called them and they are going to look into it, but were very friendly and polite about it and have said I should get a revised report... watch this space! Not signing though unless its as per original agreement and conversation following creditors meeting. Not a great start!