REJECTED

[KADGE]

Had my IVA creditors meeting today and it was rejected due to MBNA rejecting and it took me over the vote by 4% and I am gutted, been advised to file for BR but this sounds so scary but does seem the only option, does anyone know what happens, we have very little equity in our property after a secured loan and the mortgage, been advised that it is probably we won't lose it. Do you have to pay court fees? do you have to still pay a monthly amount towards your debts, are our employers informed. Questions questions questions all seems so final. Been made redundant 3 times in 3 years thats how we got into this mess, have a good job now but after we made the decision to remortgage not enough to pay those debts which the mortgage didn't cover, this was a scam as well Mortgages plc misled us. ANy advise would be great

[buttercup]

Hi

I am sure there will be lots of experts to help you here. Try not to be too down about it there will be a way forward

[MelanieGiles]

Ask your IP to ask MBNA why they have rejected your case in view of the recent acceptance of the IVA Protocol. There is a procedure for reporting occurances like this to the BBA but this does not mean that MBNA will change their minds.

[petes39]

KADGE

So sorry to hear that. However dont give up what about an DMP for a few months prehaps a diff company to do your DMP them try for an IVA if BR is not an option to you as it wasnt to me. I had an IVA refused last year, told well go BR but it would have affeceted my job soooo much i spoke to a diff company and did a DMP for 5 months went for another IVA which was not as strong as my first attempt less money to the creditors however I got it a fewweeks ago and now in an IVA. It all depends on what you want and how it will affect your future not all is lost. I was so happy when my IVA was accepted the second time as I would have been back to a DMP, however I would have tried again for an IVA as they hoepfully would realise i was giving my best offer. Pls dont give up there are so many peops on this forum who can advise you through experience and dealing with it and give you support.

Good Luck Pete

[iva.com]

Hi Kadge,

I'm sorry to hear that your application was rejected.

If you are considering BR you will find a lot of information at www.insolvency.gov.uk

If you wish to search for another IVA provider you might find www.IVA.com useful. We maintain a list of IPs and IVA firms together with client feedback on the services that they provide.

Good luck with your next steps - please let us know how you get on.

Kind regards,
Terry Balfour
IVA.com

[Reviva UK]

Hi Kadge
Don't give up on the IVA solution just because it got rejected. If the IVA is the right solution for you and you understand the consequenses of IVA's and Bankruptcy then it is worth doing a debt management plan for a few months to keep the creditor pressure away from the family and have another go in a few months.

Just be careful where you go for your debt management plan because some folks will charge a fortune to set it up and will then "encourge" you to use ther IP when it comes time to reapply for the IVA.

it is conceivable that MBNA will not vote or forget to vote next time round.


Might be worth taling to Melanie as well as perhaps she could re present the case in the future,

take care

[KADGE]

Ask your IP to ask MBNA why they have rejected your case in view of the recent acceptance of the IVA Protocol. There is a procedure for reporting occurances like this to the BBA but this does not mean that MBNA will change their minds.

As the IVA was rejected and we have decided to go for BR will we have to pay Synergi the IVA guys a fee, I have already paid them the first month of £604??

[Reviva UK]

Hi Kadge

the only fees you need to find before you go B is the court fee of £485 each. payable in cash on the day (check with the county court as some you can pay before the day)

this link http://www.hmcourts-service.gov.uk/HMCSCourtFinder/ will help you find the nearest court to you so it is worth phoning up and asking the process there. Some courts require 3 sets of the paperwork, some only one set. Others like Birmingham prefer them printed in duplex and hand written page numbers ( I gues they are green). Some courts you wil definately see a judge and others you are not likely to.

Let us know which court and I may be able to give you some more information.

You also need to check the value of your cars etc as it is easier to sort these out before the event - but take/ send copies of purchase invoices / sales receipt along with MOT & insurance to OR.

If your income is low you may get some help with the £485 fees, but I am guessing that Synergie have suggested that you pay £604 into the iVA so conceivable that you will pay a reasonable contribution (income payment agrement) to the OR for 3 years and are unlikely to get help with court fees.

Why don't you post your income & expenses on the site to get feedback of what your allowable expenses are, alternatively email it to a few of the experts to get a consensus. I suspect that you will pay something like £330 pm if you use your allowances.

[aguise]

Hi Paul . I just wanted to say hello from me and welcome to the forum. Good that you have shown your point of view and aims and already helping.

Thanks

Ang

[Reviva UK]

Morning Aguise

you must put some serious work in to become a forum expert with over 2000 posts.

thanks

PJ

[aguise]

I am by no means very technical and am just another in an iva. The forum supported me so much through the initial stages even though I didnt post I read and gained a lot of encouragement from others. I decided that I would like to give the same support back and I enjoy it. Its nice to be there when someone needs a moan or even just to let them know someone is around until the techies are free. I am not on my computer all the time I tend to pop on and off. Hubby works a lot of hours and so I spend that time on the computer with my telly and am comfy so not work at all really.
I also like to reaffirm at times that not all iva's have problems that they can work well as mine does, and hopefully it will continue that way.

Ang

[Reviva UK]

Hi aguise

I completely agree with your last statement in that an IVA is absolutley the right solution for many people. If administered & supervised well the end result is a workable solution for all. It seems to me that the success of a IVA is really dependent upon the IP and the realistic expectations and time they spend with you prior to the proposal PLUS the way in which they deal with the modifications set out by creditors. They can push back too if they are not realistic.

After all if the IVA fails nobody wins.

I have seen some horendous IVA situations but you need to remember that I only see the problem ones. I almost never see the ones that tick along perfectly because they rightly have no need of people / companies like mine.

I always find it encouraging to hear that there is good news.

[cr15py]

Hi Paul - welcome to the forums!!

Kadge - so sorry to hear your IVA got rejected. The advice you have been given by the others sounds like good advice. I hope you can find a way out of this. [:)]

[Skippy]

Kadge, have you paid any more money to Synergi other than the payment of £604? Did they say whether you would get the money back if the IVA wasn't accepted?

[KADGE]

Kadge, have you paid any more money to Synergi other than the payment of £604? Did they say whether you would get the money back if the IVA wasn't accepted?

They has said that they are looking into seeing if I will get anything refunded, but I am not holding out any hope, they took the money 9 days early and more than the agreed amount, I think they were playing safe and knew that once they had the money it would be theirs, will keep you posted