Posted: Sun Jul 29, 2007 9:08 pm
Hi guys,
Well after a long long 6 months or so I finally have a bit of hope! Myself and my husband proposed IVA's, my main creditor was HSBC and his Northern Rock so we were very sceptical.
Both meetings were initially adjourned. Within my own proposal, Black Horse rejected but thanks to some great work from Melanie and her team they managed to have them outvoted as they held under 10% of my debt, HSBC did not initially vote (and had approx 30% of the debt so had a deciding vote) They managed to get enough creditors to vote and had my proposal accepted at the original offer at 43p in the £.
Unfortunately my husband had his rejected as Northen Rock had a big chunk of his debt and would not budge giving an outright no. We did expect this as it was a "together" loan and was only a few years old. He is now considering his options either DMP and await the new SIVA and re propose or go for BR straight away.
My proposal is workable on its own without my husbands having been accepted so I will be proceeding with the IVA. Overall the future certainly looks a lot brighter, our situation has been significantly improved and half of our debt has been taken care of.
I would like to thank Ann Marie at Thomas Charles who originally put us in touch with Melanie, and of course Melanie and her team who have worked very hard to give us a result. You have really given me and my young family a lot of hope for the future and I cant thank you all enough for that.
Good luck to all you guys on the forum going through the process at the moment, and thank you all for your support that has been of great help to me over the last few months.
Andrea
Well after a long long 6 months or so I finally have a bit of hope! Myself and my husband proposed IVA's, my main creditor was HSBC and his Northern Rock so we were very sceptical.
Both meetings were initially adjourned. Within my own proposal, Black Horse rejected but thanks to some great work from Melanie and her team they managed to have them outvoted as they held under 10% of my debt, HSBC did not initially vote (and had approx 30% of the debt so had a deciding vote) They managed to get enough creditors to vote and had my proposal accepted at the original offer at 43p in the £.
Unfortunately my husband had his rejected as Northen Rock had a big chunk of his debt and would not budge giving an outright no. We did expect this as it was a "together" loan and was only a few years old. He is now considering his options either DMP and await the new SIVA and re propose or go for BR straight away.
My proposal is workable on its own without my husbands having been accepted so I will be proceeding with the IVA. Overall the future certainly looks a lot brighter, our situation has been significantly improved and half of our debt has been taken care of.
I would like to thank Ann Marie at Thomas Charles who originally put us in touch with Melanie, and of course Melanie and her team who have worked very hard to give us a result. You have really given me and my young family a lot of hope for the future and I cant thank you all enough for that.
Good luck to all you guys on the forum going through the process at the moment, and thank you all for your support that has been of great help to me over the last few months.
Andrea