18p in pound??

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worryface

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Post by worryface » Fri Jul 09, 2010 7:49 pm
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

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Post by Adam Davies » Fri Jul 09, 2010 7:50 pm
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

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Post by worryface » Fri Jul 09, 2010 7:56 pm
Thank you [:)] That has made me feel better!!
 
 

Sinking Fast

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Post by Sinking Fast » Fri Jul 09, 2010 8:38 pm
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

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Post by Skippy » Fri Jul 09, 2010 8:55 pm
I agree, your IP wouldn't be putting your proposal forward if they didn't think it would be accepted.

Good luck x
 
 

Shining

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Post by Shining » Fri Jul 09, 2010 9:10 pm
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

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Post by lull65 » Fri Jul 09, 2010 9:53 pm
Hi Worryface

My proposal was for 17p in the pound and it was accepted.

Helen
 
 

eleni

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Post by eleni » Fri Jul 09, 2010 10:52 pm
mine was accepted at 11p to the pound. try not too worry to much
 
 

alvie

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Post by alvie » Sat Jul 10, 2010 12:36 am
Mine was 15p and was accepted.
 
 

worryface

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Post by worryface » Sat Jul 10, 2010 10:00 am
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

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Post by kallis3 » Sat Jul 10, 2010 10:44 am
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.
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plasticdaft

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Post by plasticdaft » Sat Jul 10, 2010 10:49 am
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

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Post by MelanieGiles » Sat Jul 10, 2010 3:43 pm
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

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Post by Pandy » Sat Jul 10, 2010 4:05 pm
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

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Post by canaries » Mon Oct 04, 2010 1:59 pm
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
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