www.iva.co.uk

Hi.My original IVA failed due to not keeping up with payments and i am about to submit a new one with the same IP (DebtLifeBoat).
My circumstances are now such that should be able to keep upto speed with all payments.
I have a lot of creditors (in the teens) and my records now show that about 40 % of the debt is ownded by Max Recovery.They are presumably some sort of Debt Collectors but i was just wondering if anyone has ideas about how they vote at Creditors Meetings ? I'm hoping they will be amenable as they would stand to lose a lot on their investment if i go BR.
Has anybody any knowledge of their attitude and stance to IVA's ?
Thanks for the advice.You are all such nice people.

Yes - they are a firm who purchase debts from banks. Therefore you now owe this firm and not the original lender. They are one of the most commercial organisations I know, are well staffed by pleasant people, and are always looking for the best deal.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi there
I think they are a large company which buys the debts from banks at much reduced amounts, they now own the debt, and they recover what they can from them. Dont know how they vote but I think they should be reasonable as they take the best deal they can get.

Hope this helps

Ang

Hi Derby Ram

Max Recovery were the only creditor to vote at my F&F and am happy to say they voted yes to my F&F hope this helps.

I can just see in the far distance the light at the end of the tunnel hurray!!!!

Snap Melanie . Sorry posted at the same time.

Ang

Hi DerbyRam

Just wanted to check that you saw my reply the other day. Once again sorry for any distress caused but I was definitely not having a go at you.

Regards

Dave

Yes.I'm sorry i didn't reply.Just so mixed up and confused at the moment.I'm fine.Sorry fopr snapping before thinking.It can affect us all like that at times.[:D]
Just being careful as there are some on this forum who are here to pass judgement, they dont seem to be in debt or an expert..just here to gloat and pick fault with me.Really winds me up !

Virgin sold Max my debt and they voted no at my meeting even though it was £5000 and I was paying back 66p in the pound

Blimey..thats it then...i've got no chance of IVA.It seems crazy but if thats their attitude...they can kiss my arse !

Max are very commercial - if they can see that there best return is through an IVA they will vote yes.

It isn't just about the pence in the £ - its about the total proposal.

Thanks for that..reassures me a little.They are likely to get about £9000 from me with an IVA or nothing with BR..surely surely they will vote yes.I will ask my IP if they have decent track record or not
Cheers everyone.But if anyone knows any more stories about Max Recovery let me know if you would
The Derby Ram

Best thing Derby is to forget everyone elses stories ....... if you have a well prepared proposal with a realistic payment that you can afford then they will give it thorough commercial consideration.

That is very sound advice from Storm with which I completely concur.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Max recovery had been sold loads of my debts and voted yes to them all at 43p in the pound so dont give up hope.