Creditors meeting looming

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missy80

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Post by missy80 » Tue Jun 22, 2010 4:03 pm
*Numerous swear words I'm probably not allowed to write!*

The meeting was held at 10:30 am and although Egg and HSBC accepted the IVA MBNA rejected. Their reason for rejection is that with your surplus income of £240 per month you can repay all your creditors in full within a 10 year time frame. It would actually sum up to 8 years.

Unfortunately they hold 41% of the vote and cannot be voted and are not willing to change their minds so the rejection stands.
 
 

rayb

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Post by rayb » Tue Jun 22, 2010 4:06 pm
Hi Missy,

I am so sorry to hear that your proposal was rejected. Is there anyway your IP can try and sway them?
 
 

missy80

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Post by missy80 » Tue Jun 22, 2010 4:08 pm
That's cut and pasted from their email - I'll try and call them now but it doesn't sound good does it?

FFS
 
 

rayb

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Post by rayb » Tue Jun 22, 2010 4:09 pm
Worth a try calling them, maybe rejigging your I & E - have you accounted for everything?
 
 

Michael Peoples

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Post by Michael Peoples » Tue Jun 22, 2010 4:31 pm
This seems really odd. If your meeting was today it can be adjourned for up to 14 days afterwards to try and reach a settlement. Has your IP just given up?

Furthermore, if the IVA is rejected surely your IP owes you a bit more of a duty of care than just sending an email saying it was rejected.

Who is the IP?
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
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