IVA approved!! Finally on the road to freedom

[fionaj]

Hello. My creditors meeting is on 12 Feb, I will be offering 53p in the £. Have just e-mailed my IP to see if any votes had been received. He said none have yet. This worries me a bit, is it normally for places to vote at the last minute? My first proposal was rejected with an offer of 29p on the £. I am so worried this one will get rejected too.

[accgroup]

Hello

It's not unusual for there to be no votes submitted yet, they can be sent in right up until the time of the meeting so do not depair just yet.

Good luck for the 12th.



AccumaGroup - A large insolvency practitioner service based in Manchester.
www.accumagroup.com

[MelanieGiles]

In my experience most votes are received the day before the meeting. The creditors are starting to get better at this, but there are still a couple of culprits who think it is acceptable to send a fax five minutes before!!!

Try and remember that a creditors meeting was originally supposed to be attended by the creditors personally (well that is the theory!), so the reality is that you would never quite know the way the voting was going until the meeting actually commenced.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[neverending]

In your experience Melanie what percentage of meetings are actually attended by creditors in person ?

[MelanieGiles]

Less than 2% - and generally more so in trading cases, where there may be disgruntled, local creditors rather than the now more common "consumer debt" cases.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[neverending]

Interesting because I had rather a heated debate with Thomas Charles on this forum regarding this.They felt that it was in the region of 10% and my view at the time was 1%.Could it be that a London based company arranging an IVA are more likely to actually have meetings because of the fact that most financial companies are represented in London ?

[MelanieGiles]

No - creditors simply don't turn up!!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Dominic]

good luck for tomorrow and stay calm.

[gporter3319]

Good luck for tomorrow Fiona...Fingers crosse everything goes your way

[freelili]

good luck Fiona

LILY

[booboo]

Good luck for tomorrow from me too Fiona
Booboo

[fionaj]

Thanks for all your support and messages! I will keep you posted. Nerves are taking over - finding iot difficult to concentrate at work!!

[finebridge]

Hi Fionaj,

Good luck for today......please let us posted!

Kind regards

Nicola

Finebridge Ltd
22 Laud Street, Croydon, CR0 1SU
0800 180 4212
www.finebridge.co.uk

[scooby]

Hi and good luck for today

I am a bit confused though if your IVA was rejected at 29p per £ then how can you afford to pay 53p per £ this is nearly a 85% rise.

Scooby

[fionaj]

Hi Scooby

I had a fairly substansial payrise just before xmas, so just after my first proposal was rejected. Unfortunately the whole lot went towards drawing up my new proposal. It was a bit of a blow as I am not seeing any financial benefits for doing a whole new job with more responsibility. But then at the end of the day I just hope the IVA is approved - that is the most important thing!
Meeting is at 3:30...