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worryface
Posts: 3 Joined: Fri Jul 09, 2010 7:47 pm
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Hi all, we have just had our draft proposal which states we can pay 18 pence in the pound. I am worried - is this enough? Do you think it will be accepted?
TIA!!
Adam Davies
Posts: 14596 Joined: Thu Mar 29, 2007 12:21 pm
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Hi
Yes, if it is the best deal on the table and a better return than bankruptcy then your creditors are very likely to accept it
Regards
Andam Davies
worryface
Posts: 3 Joined: Fri Jul 09, 2010 7:47 pm
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Thank you [:)] That has made me feel better!!
Sinking Fast
Posts: 541 Joined: Mon Dec 28, 2009 8:40 pm
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Hi Worryface,
Im sure your IP would not have drawn up a proposal, unless they were certain that it had a good chance of being accepted by your creditors.
Gd luck.
Skippy
Posts: 20720 Joined: Sat Oct 21, 2006 6:08 pm
Location: United Kingdom
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I agree, your IP wouldn't be putting your proposal forward if they didn't think it would be accepted.
Good luck x
Shining
Posts: 27019 Joined: Thu Sep 20, 2007 8:57 am
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Good luck from myself too, so long as the best offer is on the table, creditors should look at it favourably. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
lull65
Posts: 42 Joined: Fri Feb 27, 2009 6:15 am
Location: United Kingdom
Hi Worryface
My proposal was for 17p in the pound and it was accepted.
Helen
eleni
Posts: 8 Joined: Thu Jul 08, 2010 7:23 pm
Location: United Kingdom
mine was accepted at 11p to the pound. try not too worry to much
alvie
Posts: 13 Joined: Wed Aug 12, 2009 10:56 pm
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Mine was 15p and was accepted.
worryface
Posts: 3 Joined: Fri Jul 09, 2010 7:47 pm
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Thank you, you have all put my mind at rest, I got myself all worried there for a minute. We shall sign the proposal and send it back! Does anyone know how long it should take once we have signed and returned it?
Thanks all!
kallis3
Forum Expert
Posts: 77175 Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom
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It shouldn't take too long at all. Once the IP has the proposal back they will convene the creditor meeting.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
plasticdaft
Forum Expert
Posts: 9562 Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom
There will be plenty more worrying before the end of your debts but we are always here to help out even if its just to listen.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
MelanieGiles
Industry Expert
Posts: 47612 Joined: Tue Jan 09, 2007 10:42 am
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Your IP should call the creditors meeting as soon as they receive your signed proposals - so I would guess around three weeks to the creditors meeting from now.
Don't forget to tell us how you get on!
Regards, Melanie Giles, Insolvency Practitioner
Pandy
Posts: 1987 Joined: Tue Jun 08, 2010 5:49 pm
Location: United Kingdom
Hubby's and mine interlocking one is 11.64p so yours is huge compared to ours, and ours went through OK.
If life is what you make it, I must have been in a strange mood when I made mine
canaries
Posts: 121 Joined: Mon Oct 04, 2010 1:57 pm
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Pandy wrote:
Hubby's and mine interlocking one is 11.64p so yours is huge compared to ours, and ours went through OK.
Can I ask who you went with to get 11.64p accepted ?
Thank You