It is a very good offer and I would be extremely surprised if it is rejected. Creditors may amend the fees but usually this will happen at the meeting of creditors and will not impact on your IVA [unless you repay in full].
Mine was less than that and, as Michael says, creditors can amend the fees.
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
You will get a call to say either yay or nay. Fees will be negotiated between creditors and the IP. It won't alter your payment.
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
No, it will be a normal phone call as votes are done either by email or fax. You company would not put this through if they were not confident of it being accepted.
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
You might get a call if, say , the creditors don't agree to allow you £25 for bus fares but will agree to £20 --- you will be asked to say yes or no (of course a "no" will mean rejection, but you do have to be asked). Otherwise it will be a simple "yes" or "no".
If the lower the fees, this will simply increase the dividend to creditors, it will not affect your monthly payment.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Johng79 wrote:How long does meeting last for does anyone know?
It isn't a physical meeting these days and most creditors vote by post, email or fax. At the "appointed hour" the votes will be collated and result announced. If straightforward it could take minutes -- if the result is clouded .... say ... not enough votes to accept and some creditors haven't voted -- they non-voters will need to be chased to try to get a favourable result. This would take longer.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It is unusual for IVAs to be rejected so I am very confident it will be accepted. We will contact you as and when votes come in so by the actual time of the meeting it is usually all done and dusted anyway. Creditors do not meet up and you are not required to attend so it is just a 'virtual' meeting.
