Creditors meeting answer

Get expert opinion. This is the place for new questions to be posted.
  • 1
  • 2
19 posts Page 1 of 2
User avatar
andrea685
Posts: 8
by andrea685 » Tue Jan 30, 2018 3:21 pm
How long after creditors meeting do you have to wait on a answer?
User avatar
Foggy
Forum Expert
Posts: 27117
Contact
by Foggy » Tue Jan 30, 2018 4:01 pm
You usually hear shortly after the meeting, unless there has been a hold up and the IP is doing some chasing. If that was the case it would be polite to let you know, but IP's seldom do.
Give them a ring.
User avatar
kallis3
Forum Expert
Posts: 73607
Contact
by kallis3 » Tue Jan 30, 2018 4:02 pm
You should get one fairly quickly - have you had a meeting yet?
User avatar
andrea685
Posts: 8
by andrea685 » Tue Jan 30, 2018 4:29 pm
Creditors meeting was yesterday @ 12.20 didnt hear anything, contacted them this morning and they said they havent heard back from all creditors (communication is the only issue i have with them) how long do the creditors have? As ya can tell this has been the longest 6 weeks of my life :(
User avatar
Foggy
Forum Expert
Posts: 27117
Contact
by Foggy » Tue Jan 30, 2018 4:36 pm
andrea685 wrote:
Creditors meeting was yesterday @ 12.20 didnt hear anything, contacted them this morning and they said they havent heard back from all creditors (communication is the only issue i have with them) how long do the creditors have? As ya can tell this has been the longest 6 weeks of my life :(


Are you with CF by any chance ? They do not have wait for all creditors to vote, but, if the vote was a no on those that did vote they will adjourn the meeting while they canvass the others to get a yes.
User avatar
andrea685
Posts: 8
by andrea685 » Tue Jan 30, 2018 4:44 pm
Yes its CF an phone to update me would be great :cry:
User avatar
Foggy
Forum Expert
Posts: 27117
Contact
by Foggy » Tue Jan 30, 2018 4:52 pm
andrea685 wrote:
Yes its CF an phone to update me would be great :cry:


Thought it might be -- they seem to have this problem a lot. Unfortunately communication is not their strong point !
User avatar
kallis3
Forum Expert
Posts: 73607
Contact
by kallis3 » Tue Jan 30, 2018 5:21 pm
Pester them tomorrow for an answer! Not good to keep you hanging on like this.
User avatar
andrea685
Posts: 8
by andrea685 » Tue Jan 30, 2018 5:34 pm
Oh trust me i will its a long enough process but this final leg is the most stressful time of my life :(
User avatar
kallis3
Forum Expert
Posts: 73607
Contact
by kallis3 » Tue Jan 30, 2018 5:35 pm
Not surprised - I hope it all goes ok!
User avatar
andrea685
Posts: 8
by andrea685 » Tue Jan 30, 2018 5:52 pm
kallis3 wrote:
Not surprised - I hope it all goes ok!

Thank You :D
ashbock123
Posts: 93
by ashbock123 » Tue Jan 30, 2018 6:31 pm
They took a few days with mine to give me a answer back they are OK usually just take them a while for paperwork then they will email you the meeting info. All should be ok I only went into mine in September took about 3days after my meeting to hear.
User avatar
andrea685
Posts: 8
by andrea685 » Tue Jan 30, 2018 6:42 pm
ashbock123 wrote:
They took a few days with mine to give me a answer back they are OK usually just take them a while for paperwork then they will email you the meeting info. All should be ok I only went into mine in September took about 3days after my meeting to hear.

Oh thanks good to know that they did always say that id probably a 98% chance of acceptance but until ya hear that YES its always in the back of your head that it will be a No :lol:
ashbock123
Posts: 93
by ashbock123 » Tue Jan 30, 2018 7:39 pm
Yes I had some debt which I had only 4 weeks before went into iva as I was trying to move stuff around but was just borrowing more and getting deeper. But they still accepted even though it was £1500 money transfer the week before
User avatar
Lisa Thomas
Industry Expert
Posts: 6957
Contact
by Lisa Thomas » Wed Jan 31, 2018 9:20 am
Depending on how good your IP firm is you should know within 5 minutes.

If Your IP is telling you they have received no votes then your proposals cannot have been accepted and I would expect that they need to adjourn the meeting to allow more time to get creditors votes.
  • 1
  • 2
19 posts Page 1 of 2
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 30 guests