Can I add that this happened to me. My wife was accepted and I was rejected. I immediately applied to another IVA company and was accepted.
However in hindsight I should have gone bankrupt and would now be discharged instead of having to pay for another 4 years (6 years in total) dependant on the value of our house. Our house was in negative equity at the time. I would have saved £000's
You can still go bankruptcy now pbelter, if you feel that the IVA was a mistake. Four years is a long time to be regretting a decision which you feel was made badly.
Thanks for all the positive replies, I am optimistic that the creditor concerned will see that accepting the IVA is the best offer for all parties concerned and will adjust their decision. There is still time as the adjournment lasts until 10th feb.
Looking at the paperwork it looks as though they either get 53p in the pount with a yes vote, or nearer 4p in the pound if they say no.
The problem is the ball is all in their court as they have 75% of the debt so control the vote.
