Mr Loadsofbills
I share your concerns about the voting policies of The Insolvency Exchange, in that they operate a very harsh and rigid formula, however in the few weeks I and my staff have been dealing with them I have found that they are always prepared to talk about a compromise.
Whilst it is very important not to take on commitments you cannot afford, please all of you that are in the process of proposing IVA's ensure that your IP is continuing to negotiate on your behalf and not just sitting there doing nothing.
And at the end of the day, there is no harm in you picking up the phone to the creditors and stating your case. If more people did this, my feeling is that this voting company would realise that they are putting people into unrealistic proposals which are very likely to fail in their first year. As they are accountable to their clients HSBC and HBoS, this is bound to be of concern to them, because people like me will make it absolutely clear at the end of the day why cases have failed.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at:
http://melaniegiles.blogs.iva.co.uk