Everyday Loans and my IVA proposal

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chris553
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by chris553 » Wed Dec 12, 2018 8:33 am
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
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Foggy
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by Foggy » Wed Dec 12, 2018 9:20 am
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.
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kallis3
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by kallis3 » Wed Dec 12, 2018 9:22 am
Fingers crossed Payplan can help you out.
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Shaun Vickery
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by Shaun Vickery » Thu Dec 13, 2018 12:50 pm
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?
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