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Ajackson1707

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Post by Ajackson1707 » Thu Jul 11, 2019 9:02 pm
Good evening,

After a long two weeks waiting for my creditors meeting, I was called by Payplan yesterday to say that the meeting was adjourned and they now have to reschedule a date 14 days away!

I am so so worried that my proposal is about to be rejected and I cannot sleep. I was fairly confident it would be accepted until yesterday happened. Payplan assure me it’s “perfectly normal” “happens all the time” but I’ve seen no evidence of this happening at all on this forum.

Can somebody help me understand what’s happening, I’m going out of my mind :(

luluj

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Post by luluj » Thu Jul 11, 2019 9:21 pm
Sorry to hear this. Have they given a reason for the adjournment ?
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

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Ajackson1707

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Post by Ajackson1707 » Thu Jul 11, 2019 9:23 pm
Thu Jul 11, 2019 9:21 pmluluj wrote:
Sorry to hear this. Have they given a reason for the adjournment ?
Not really, just said we need to give the creditors more time to vote.

Hultonlady19

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Post by Hultonlady19 » Thu Jul 11, 2019 9:35 pm
It is very common try not to worry, I was the same - out of my mind when they didn’t have a decision on Monday but basically they wait for the votes on the day of the meeting and if they don’t get them by the end of the day they have to say it’s adjourned - this only means that between not and in 21 days they will be chasing the votes that haven’t come in and once they have enough to go over the 75% they will then put the proposal in place so it might not take 21 days might be sooner. When they rang me today they said it’s took a bit longer because NatWest were busy and voted late and then most of the creditors wanted a reduction in fees and various modifications - he said in my case more than usual but mainly around fees and then one wanted £30 more a month which in the end was all agreed and sorted within 3 days from the meeting so yours might be similar in this respect. I would give them another call Monday just to see where their up to and to ease your anxiety. Let us know how you get on and just remember you have took the step and now it’s in the hands of PayPal to do the work for you there’s nothing more you can do. X

luluj

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Post by luluj » Fri Jul 12, 2019 1:08 am
Hultonlady19 ... great words of encouragement after the week you have had. Don't give up hope Ajackson1707, your IP would not have referred you through for an iva if they were not confident in it being agreed.
Fingers crossed you get the answer you need in the coming days x
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

Ajackson1707

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Joined: Wed Jul 10, 2019 8:09 pm

Post by Ajackson1707 » Fri Jul 12, 2019 7:16 am
Thanks all, it’s just not something I was expecting. It’s kinda knocked me for six, but I’m trying to put it to the back of my mind. I tried asking my IP should I let my creditors know as I have a 30 days freeze on my accounts which I can’t remember when I applied it. Payplan day all creditors are aware that I am seeking an IVA and will be aware of the situation but when I told my creditors they said that if they don’t hear from me or Payplan then the interest will be reapplied, I’m slightly confused!

Thanks again for your kind words and reassurance!

kallis3

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Post by kallis3 » Fri Jul 12, 2019 7:38 am
It would probably be a call centre you spoke to - they would not be aware of your application but the actual creditors will have been told.
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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Hultonlady19

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Post by Hultonlady19 » Fri Jul 12, 2019 1:11 pm
I rang some of my creditors when I applied and was waiting and they did freeze my account etc however now you have had the meeting and are awaiting the decision I would say it probably won’t make any difference ringing them - they will most likely have notes on your account like mine did that says pending iva decision so they will have your accounts in some kind of frozen limbo x

Hultonlady19

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Post by Hultonlady19 » Mon Jul 15, 2019 2:21 pm
How are you AJ ? Any update ?

Ajackson1707

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Post by Ajackson1707 » Fri Jul 19, 2019 7:03 am
Nope, nothing yet. Was my birthday Wednesday and I couldn’t do anything but worry. I didn’t even buy myself a cake 🎂. Keep getting emails saying you’ve missed a payment and I need to pay, trying to ignore them but a little niggle in my head tells me to start paying them again just in case!

kallis3

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Post by kallis3 » Fri Jul 19, 2019 8:21 am
The emails will be generated by a computer so don't worry about them. I am sure you will get an answer soon. I personally wouldn't make any payments.
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

Ajackson1707

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Post by Ajackson1707 » Wed Jul 24, 2019 10:55 am
God I am so nervous today! These last two weeks have been horrific. Barely got any sleep last night... we’ll know in the next half hour though!

kallis3

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Post by kallis3 » Wed Jul 24, 2019 11:01 am
Fingers crossed!
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

Ajackson1707

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Post by Ajackson1707 » Wed Jul 24, 2019 2:33 pm
Happy outcome! - all approved the three main creditors were in favour. Just PAYPAL and Creation who didn’t like me. I’m so relieved! Now the journey to debt freedom begins!

kallis3

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Post by kallis3 » Wed Jul 24, 2019 3:10 pm
Excellent news - really pleased for you!
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
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