I’m now really stressed, me and my partner have around 60k of debt between us and I have been turned down for an IVA because one of my creditors being everyday loans have rejected which I knew would be the case they hold around 14% of the vote. I have now spoken to payplan who have advised me based on my circumstances that an Iva is the answer and they will try. I am really worried as I don’t want to got bankrupt and lose my house and it’s seems a mindfield can anyone help me
With only 14% of the voting power they do not hold enough sway if the other creditors can be convinced to vote ... and vote "Yes". Let's hope Payplan will put in the work where your other firm, maybe, didn't.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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
Did you get any indication as to why the IVA was rejected initially. Do you know whether your creditors gave any feedback, for example that you had too much equity in your house?
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.
