Creditors Meeting Paperwork different to proposal

Get expert opinion. This is the place for new questions to be posted.
6 posts Page 1 of 1
Itsallouttherenow
Posts: 25
by Itsallouttherenow » Fri May 11, 2018 7:20 pm
Hi

We recieved notice of our creditors meeting today.....23rd May!! Excited but scared. After reading through the creditors meeting paperwork today I am very worried.

In our proposal we signed for 44p in the £ for IVA. Bankruptcy figures 50p for myself and 44p for my partner.

On the CM paperwork it says 67p in the £ for bankruptcy?????
That's a huge increase. And makes bankruptcy look a much better return for our creditors.

I have already contacted our IP but know we won't hear anything til Monday.

I am wondering if they have taken the bankruptcy average of 50p for me and 44p for my partner.....and instead of quoting 47p they have put 67p instead??!!

This creditors meeting paperwork has been sent to all our 14 creditors and it is NOT what we signed in our proposal. Which was the 3rd draft (different story!).

Anyone any thoughts? Any other reason for the BKY figure to have increases by so much, other than a mis calculation??

Xx
User avatar
Foggy
Forum Expert
Posts: 26093
Contact
by Foggy » Fri May 11, 2018 7:50 pm
Sounds like an error, but I could not say with any degree of certainty.

Best iof luck for the meeting !
Itsallouttherenow
Posts: 25
by Itsallouttherenow » Fri May 11, 2018 8:09 pm
Thanks for the reply foggy

How can such an error happen though!
I can't see any other explanation.

Do you know where we stand I terms of this paperwork that has been sent to our creditors being so different from what we signed for?
Clearly they need to amend it and resend......but is that even possible??
User avatar
kallis3
Forum Expert
Posts: 73082
Contact
by kallis3 » Sat May 12, 2018 7:42 am
You need to speak to them on Monday and try and clear it up.

Best of luck from me as well!
User avatar
bethany
Posts: 15
by bethany » Thu May 24, 2018 2:04 pm
Itsallouttherenow wrote:
Thanks for the reply foggy

How can such an error happen though!
I can't see any other explanation.

Do you know where we stand I terms of this paperwork that has been sent to our creditors being so different from what we signed for?
Clearly they need to amend it and resend......but is that even possible??



I hope all is well anything went through :)
User avatar
kallis3
Forum Expert
Posts: 73082
Contact
by kallis3 » Thu May 24, 2018 2:17 pm
Did everything go ok?
6 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 6 guests