Creditors Meeting

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1964alison

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Post by 1964alison » Thu Sep 23, 2010 12:02 pm
HI, Can anyone tell me how long the creditors meeting normally lasts? I have my creditors meeting today. It started at 11am. I am at work and just wanted to know roughly how long I need to be available to take calls/emails.
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kallis3

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Post by kallis3 » Thu Sep 23, 2010 12:06 pm
Meetings don't normally take long. The majority of creditors will already have voted.

I would give your IP a ring to see what has happened.
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
 
 

liamjames

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Post by liamjames » Thu Sep 23, 2010 12:07 pm
Usually votes are received by proxy by a certain time, in your case,m 11am. If there is a delay, then it probably means that your IP is waiting for a vote, or arguing a modification. Call them up to find out what's going on. :)

Best of luck!
Take care,

Liam James
Varden Nuttall
http://www.vardennuttall.co.uk

Read our reviews here: http://www.iva.com/iva_companies/Varden_Nuttall.asp
 
 

Shining

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Post by Shining » Thu Sep 23, 2010 2:30 pm
Hopefully you'll get some good news. Do let us know xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

1964alison

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Post by 1964alison » Thu Sep 23, 2010 3:33 pm
Unfortunately my IVA was rejected BY Northern Rock. They say they want me to do a DMP. I am now looking at bankruptcy as I have many creditors and cannot afford to take the risk of paying back more than I currently owe if they don't all freeze interest and charges. Also it is not secure in that they can refuse to carry on with the DMP at the annual review. So I am completing my bankruptcy petition form as we speak. I have read that my bank aco**** wil be frozen. What does this mean? My husband and I have a joint account which we opened when we applied for the IVA (as recommended). Does this mean we can not use this account either? My husband will not be entering into the bankruptcy with me. I am SOOOOO scared!!
 
 

kallis3

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Post by kallis3 » Thu Sep 23, 2010 3:40 pm
I am so sorry to hear that. Northern Rock will be the losers here

As regards your bank account, the OR will more than likely tell your bank that they are not interested in the account and it will be freed. I would advise taking out money required for day to day living and paying bills before declaring BR.
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
 
 

1964alison

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Post by 1964alison » Thu Sep 23, 2010 3:43 pm
But our wages get paid into this account and bills paid by DD. We dont have savings. But obviously our account is looking better than it did as I am not currently paying my creditors. I take it they will take this into account. I will have to show bank statements so can explain that then can't I? I just hope they are as accommodating as my IP was.
 
 

back on track

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Post by back on track » Thu Sep 23, 2010 3:48 pm
has your ip been back in touch with northern rock to tell them you will file for bankruptsy.
they might change there tack if they know this.
your ip can have up to 2 weeks i think to try and work something out
cc received 6th January 2014 now upwards and onwards
 
 

1964alison

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Post by 1964alison » Thu Sep 23, 2010 3:51 pm
My IP is preparing the report which she said needs to be done in 4 days. I'm not sure that she is going to mention the bankruptcy to Northern Rock. I will ask her to though.
 
 

Shining

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Post by Shining » Thu Sep 23, 2010 4:07 pm
I'm sorry to hear that and I'm sure Skippy or Julie will be along later and can give you excellent advice in respect of bankruptcy. 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 Sep 23, 2010 4:53 pm
Skippy may not be along as she is on holiday this week and so only touching in from time to time via her mobile.

Hopefully Julie will be on later.
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
 
 

Shining

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Post by Shining » Thu Sep 23, 2010 4:53 pm
My bad I forgot x
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 Sep 23, 2010 5:10 pm
[:D]
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
 
 

Broke of London

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Post by Broke of London » Thu Sep 23, 2010 7:11 pm
It is worth your IP mentioning to NR that bankruptcy is your plan B. They might change their mind if the IVA will realise a better dividend. Good luck and let us know how you get on x
 
 

kallis3

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Post by kallis3 » Thu Sep 23, 2010 7:15 pm
NR may not be bothered - they're not the most sympathetic of credits and I think they may know what they will get in BR.
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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