D-Day

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DMB

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Post by DMB » Wed Sep 15, 2010 7:19 pm
Tomorrow is my creditors meeting at 11:15.
Hope the figure agreed isnt too far away from the proposal.
If i feel that the revised figure isnt manageable what do i have to do next?
I owe nearly £40,000 so i guess a DMP isnt an option?
I understand the IP works for all parties but i just wondered in other peoples experience how much the proposal figure and the agreed figure can vary?
 
 

Shining

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Post by Shining » Wed Sep 15, 2010 7:21 pm
Hi Good luck for tomorrow. Your IP would have put the best proposal for you, you may have no modifications in payments, if you do you don't have to agree immediately take time to work the figures but hopefully it'll go through straightaway. All the best and let us know how it goes won't you? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

DMB

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Post by DMB » Wed Sep 15, 2010 8:39 pm
Thank you for your replies Helen and Lesley.
Bit dissapointing the response?
I thought there might me a few more people with advice about there experiences,particularly the variation in proposal and final agreed figures?
 
 

kallis3

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Post by kallis3 » Wed Sep 15, 2010 8:45 pm
Good luck from me as well. I hope it comes out in your favour.

It is all down to the individual proposal and what may be ok for some may not be ok for another.
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
 
 

carlmcmullen

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Post by carlmcmullen » Wed Sep 15, 2010 8:45 pm
Hi DMB,

Your IP is there to act on your behalf, and will be very experienced and would not have put the proposal forward if they didnt think there was a real prospect of it being accepted by creditors.

As far as the final figure then again, they should understand how the creditors vote and your proposal should reflect that aswell.

I tend to find that the creditors typically vote a day or two before hand, and if your creditors meeting is tomorrow they should have some votes already and had there been a problem with it should have contacted you to discuss before the actual meeting.

So i guess the saying no news is good news springs to mind.

As Lesley said, if there is an increase in contributions the meeting can be adjourned for up to 14 days so dont rush into agreeing anything.

Your IP will go back to creditors if they feel any modificaiton put forward is unresaonable or it may well be they require further informaiton if not already contained in the proposal.

Good luck and fingers crossed.
 
 

kallis3

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Post by kallis3 » Wed Sep 15, 2010 8:51 pm
Good luck DMB, hope it all goes your way.
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
 
 

Sinking Fast

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Post by Sinking Fast » Wed Sep 15, 2010 8:56 pm
Hi DMB,

Gd luck for tomorrow. We had a modification to our proposal, which equated to a 4% up lift from what was originally proposed (another £32 pm to find).

Remember if your creditors are asking for modifications, you have 14 days in which to consider there request.

Gd luck and do post back tomorrow with the outcome.
 
 

Broke of London

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Post by Broke of London » Wed Sep 15, 2010 9:02 pm
Good luck tomorrow. I was wracked with nerves but the creditors didn't ask for any modifications. Not long to wait now.
 
 

DMB

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Post by DMB » Wed Sep 15, 2010 9:41 pm
Thankyou everyone.
I will let you all know the result of the meeting?
Heres to a good night sleep??
 
 

kallis3

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Post by kallis3 » Wed Sep 15, 2010 9:46 pm
Hopefully!

Thinking of 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
 
 

Shining

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Post by Shining » Thu Sep 16, 2010 7:45 am
Good luck with the meeting, hope you got some sleep.

Work all day but will be looking in a little later for that positive post. All the best xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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