Creditors Meeting

[MelanieGiles]

Hi Donna

So sorry to hear that your proposal was rejected by KPMG and Northern Rock. KPMG are a reputable firm of accountants who represent a number of banks. I find them very reasonable, so am curious to know why. Your IP should have found this out straight away.

What dividend were you offering, and how much are your debts and disposable income. Also which IP firm are you using?

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

[zoe]

Hi Donna
Why was it rejected and which company did you use?

Zoe
XX

[zoe]

Hi Donna
Why was it rejected and which company did you use?

Zoe
XX

[Donna]

Total debt is 36000 and offering 45p in the pound. Am using Clear Start, they said they will get back in touch next week and not to worry, but easier said than done!

[Donna]

Sorry, forgot to add, disposable income 360

[laleanne1]

Hi Donna

So sorry to hear about you iva, but dont forget many people get their first proposal refused so it could still work out. [:D]

l morris

[MelanieGiles]

That seems strange Donna, why does your IP say that it was rejected?

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

[DebtDummy]

Yes donna, laleanne is correct. A first rejection although it is an emotional crushing experience many a time leads to a yes vote the second time represented. Cheer up donna, it's the weekend. Please don't do the debtor's shuffle all weekend. It's when you remain in your dressing gown and drag yourself from room to room with a glazed look in your eyes, mumbling to yourself,'' Ohhh, what will I do now!''

Everything will work out, donna. Just wait and see. I know it's easier said than done,but try to relax.

Remember, there is light at the end of the toilet paper roll .Just look through one (please smile).

All I have left is my humour.

[mike_taylor]

KPMG represent RBS/Natwest if your surname begins with the letters A-F.

[neverending]

Hi Donna
Are you sure that your IVA was offering 45p dividend because ,if so ,your IP fees are extremely low at £5400 over five years ???

[Donna]

IP has been on the phone today, she is going to contact Northern Rock to find out why and is going to chase people that didn't vote. She said she will be in touch Wednesday. Am just gonna have some fun this weekend and try and put it out of my mind. She seems to think I'll be lucky second time around!

[Donna]

IP has been on the phone today and advised NR have said I could pay this back over 10-12years! She has said to them that this is inpractical as I would have to get other creditirs to agree. She asked if I would consider extending period of IVA to 6 years therefore increasing payment to 57p in £ as opposed to 45. I said yes, can't see what other option there is. Any views?

[zoe]

HI Donna
Have they given you any reason why they would not accept the proposal there must be a reason?
Zoe
x

[MelanieGiles]

Well 6 years is better than 12! Find out from your IP which representative is voting for Northern Rock. They generally use Tait Walker, Kroll or Eversheds. I find Tait Walker much easier to deal with than Kroll. Also ask your IP if she has dealt just with the representative, or tried to speak to NR direct. Sometimes the latter approach does bring results.

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