www.iva.co.uk

Just been on the phone to our IP to get an update on what is happening. Our creditors meeting has been set for the 20th Dec, paperwork should be here tomorrow.

When you get a set date it tends to sink in a bit more and you get that ARGH! feeling. One good thing is whatever the outcome it will all be done before Christmas.

Thegood thing is, so far we have received no calls, no letters and no contact in any form from our creditors. I'm sure we will but we'll enjoy this while we can[:D].

I will keep posting updates and let everyone know what happens in the hope that it will be useful for someone reading this forum.

Thanks to everyone that has helped us so far.

On the way to a brighter future....

Hi

Good luck for your date, think its unlikely then that we will have ours back before xmas, as we are still waiting for the draft proposal to be sent to us, has to go through checks or something.

Just wondered, as you said youve had no calls or anything if you are still paying creditors what they want, either that or a token payment? Weve been paying token payments but still have them ringing!
[88]

Since the beginning of the application we were told to stop payments, so we have made no payments since then.

I think we must be one of the lucky ones, but as I said, I'm sure the flood of calls and letters will arrive soon enough.

On the way to a brighter future....

goodluck illihor my meeting is on the 14th so like you will all be over by xmas heres hoping they accept.
scaredkez

good luck to both of you

YES GUD LUCK I KNOW WHAT IT FEELS LIKE NOT KNOWING WHAT THE OUTCOME WILL BE BUT AT LEAST YOUVE MADE THE FIRST AND THE HARDEST STEP TO SORT OUT YOUR PROBLEM.IM SURE EVERYTHING WILL BE OK YOUR IP WOULD NOT PUT YOUR IVA FORWARD IF THEY DIDNT THINK IT WOULD BE APPROVED.I MEAN THEY NOT GONNA DO ALL THAT WORK IF THEY ARE NOT GOING TO GET ANYTHING OUT OF IT ARE THEY.

Hi illihor,

WOW I think that’s the first time I've heard of creditors not calling or sending nasty letters to a client in an IVA. You truly are lucky.

It’s good to hear that your creditor's meeting is set for the 20th Dec; I know it’s hard but try to keep calm and positive until you definitely know the outcome. Stressing about a decision that has not yet been made is no good for you and the ones around you.

All the best.


Hope this information is of use

Regards. IVA Experts

I'm almost positive we will get some demanding mail/calls soon.

Staying calm and positive is, as you can understand a difficult thing to do. Until you get the accepted notification the dark cloud of bankruptcy is still looming large on the horizon.

We are probably the same as everyone else in wanting to avoid the public humiliation of bankruptcy.

We do find humour in all the offers of credit that come through the letterbox though, at least that's one thing[:D].

Thanks to everyone for your replies.

On the way to a brighter future....

Not a problem illihor, I think it takes great courage to admit you need help and then take action you should be proud of yourself.

Hope this information is of use

Regards. IVA Experts

I dont want to go bankrupt either

Why is it humiliating? I am worried now I thought it was just a formal procedure.

I know my name will be in the paper but I really have no choice.

LILY

I don't think that bankruptcy is humiliating. I was fully prepared to petition for bankruptcy if my IVA was rejected. You are doing the best thing for you and your family.
The only way people will know about the bankruptcy is if they read the paper, or if you tell them. Good luck, and hold your head high x

One down, fifty nine to go until freedom!

Hello,

I think bankruptcy can be seen as humiliating by alot of people, as you are aware it is one step to admit you have a spending problem but for it to be printed in the paper is too shameful for some.

Freelili in cases like yours it is different as you lost your job, and had no or little disposable income to offer your creditors, so your only choice was to go bankrupt.

Bankruptcy seems to have a big, dark stigma attached to it but there are many advantages to going bankrupt. These advantages being:

- The responsibility of paying your debts is taken away from you.

- If you can afford to pay something back, you will have to make monthly payments towards your debt for 3 years, after these payments are completed by law the rest of the debt will be written off.

- Normally you will be bankrupt for just 12 months, after that you will be discharged.

- You will be allowed to keep reasonable household items e.g. washing machine, fridge etc.

Remember that you are doing the best you can right now for your family that is the most important thing.


Hope this information is of use

Regards. IVA Experts

Apart from my name appearing in the press which I know is going to happen.

Will it be done in public, at the court I mean, I really am scared now.

I really wanted to go for IVA and pay my creditors back I felt it was the moral thing to do. I am paying for my debts in a way, I just do not want to face loads of judgemental people in court.

LILY

Didn't mean to cause you any worry Lily. It is just basically the name in the paper thing.

I couldn't have summed it up any better than iva experts, thankyou.

On the way to a brighter future....