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YES...at long last its been accepted!!!!!
BUT... I have to accept an increase of £115 pm at the request of "The Insolvency Exchange" who voted in respect of quite alot of my creditors, apparrently all of my creditors voted apart from 1 (Diners) the rest of the 25 all voted yes with no rejections. I will post more details later.....

Are you sure you can afford the £115 per month. Thats a big increase ??
CONGRATULATIONS ANY WAY, WELL DONE !!!
I am worried not because TIX hold the key to alot of my creditors too

Please post details for the rest of use, like you did vote, who didnt vote etc... etc... what other modifications were there

Well done frequentflyer, i told you to sit tight! I am sooooo pleased for the both of us. Get the beers out tonight!!!

Congratualtion FF and Debbi.....very happy for you both, great news....Definitely cause celbre for tonight for you both, enjoy....

Martin

Congrats frequentflyer - that is a big increase though...

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Congratulations FF
I hope you too like Deb have a great 2008

Hi Frequentflyer

Thats a massive amount to find every month for the next 60 months. Are you sure you can afford it. I know you just want closure on your situation but agreeing to something that will drag you down over the next few years could be worse in the long run.

How did your IP get your disposable income so wrong if they are asking for that amount extra. Or why isn't your IP fighting your corner and saying its not feasible to find another £115 per month.

Sorry if I'm raining on your parade but I would hate for you to say yes to something which you later regret.

Regards

Dave

Hi
Well done,what a wait you had !
Very sad to see such a large increase asked for,either your IP got your expenditure very wrong or TIX are really turning the screw.Did they say where the savings are expected to be made ?

Andy Davie
IVA.co.uk Spokesperson and Website Manager

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Thanks everyone!!
I was beginning to feel like the party has started without me there for a while!!
CARAF...Yes I would not have accepted if I couldnt have afforded it, its the old story though, creditors expect the propsal to have inflated figures to pre- empt them requesting an increase. In my case, I was luckily able to accomodate the increase but others may not be able to. It does make me mad to think that you are putting forward what is supposed to be your best offer and they immediately try it on...I was tempted to say no to that BUT I just saw the end of the journey and went for the easy option I suppose.
My IP said that they had never seen so many creditors voting, I know I had 25 but 24 voted and 24 in favour. TIX reprsented a large proportion of my creditors including HSBC.
I do not have the full details of the vote yet but will post when I get the chairmans report. All I do know is that the vote percentage was as follows:
My Wifes Proposal : 100% voted in favour
Mine: 99% voted in favour although due to some requesting modifications that were less than the one asked for by TIX they were rejected by the chairman.Therefore my percentage in favour was actually 77.93%

well done frequentflyer, congratulations to you and the wife. I only hope when my meeting comes around that they don't want £100+ more per month as I know I won't have it but you do and I am so pleased for you.

They apparrently said that the allowance for housekeeping was too high at £400 pm and that the medical expenses were too high at £35 pm.
I can absorb the increase and I had half expected it so thanks for your concerns but I am lucky in that it will not impact on me that much

yoyr housekeeping is set at £400 and medical set at £35 per month. How many people in your household ??

Hi Frequentflyer

Thats good to know you will be able to cope. Just out of interest is it just you and your wife or do you have kids too? Also do you have much need for the medical expenses? These are the type of things that help others going through the process. As TIX has such a say its good to know what they consider is reasonable for housekeeping.

I'm glad its finally sorted for you. I kept checking back to see if you'd heard anything. My meeting was 11am and it felt like forever so having to wait til after 2 must have been hell.

Well done

Dave

Very well done, as others have said, it's a big increase, but if you can afford it - then that's OK.

Well done again [:)]