4th year review

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animaleyes76

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Post by animaleyes76 » Thu Aug 05, 2010 11:36 am
Just received confirmation that payments are not to increase for the final stretch of my IVA.

A nice and pleasant thing to hear, even if it was what i kinda expected.

Chairmans report to follow shortly.. THAT is going to be the interesting part. As some of you will know, my year 3 chairmans report stated that no dividends had been made, and about 9 creditors hadn't even made a claim (all of which were the ones the big money was owed to).

As part of the Grant Thornton mass variation, creditors were given 3 months to claim or be barred from claiming.

Can't wait to see what it contains.
Last edited by animaleyes76 on Thu Aug 05, 2010 12:28 pm, edited 1 time in total.
 
 

Shining

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Post by Shining » Thu Aug 05, 2010 1:45 pm
Great news no payment change and I hope the final stretch goes smoothly for you xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kallis3

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Post by kallis3 » Thu Aug 05, 2010 2:03 pm
Excellent news animaleyes!

On the downhill stretch now.
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
 
 

carole2662

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Post by carole2662 » Thu Aug 05, 2010 4:38 pm
If the creditors dont make a claim what happens then. I am sorry if I seem thick but I though that is you owed them money then they would get paid a part of the money you have paid in.
 
 

Michael Peoples

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Post by Michael Peoples » Thu Aug 05, 2010 4:44 pm
In the unusual event that a creditor does not claim, their share is divided among the creditors who do claim. The first creditor is therefore out of the IVA but cannot pursue the debtor.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

orange

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Post by orange » Thu Aug 05, 2010 6:51 pm
we thought that if they didnt claim at the time they could claim any time during the duration of the iva ?
completed july 2011
 
 

kallis3

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Post by kallis3 » Thu Aug 05, 2010 7:18 pm
Perhaps if they have been given an ultimatum they have to reply by that time.
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
 
 

MelanieGiles

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Post by MelanieGiles » Fri Aug 06, 2010 2:19 am
If creditors cannot be bothered to claim, then they do not deserve to receive dividends and it is right that their money should be shared amongst the other creditors.
Regards, Melanie Giles, Insolvency Practitioner
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