Has anyone had success for F&F in the first year?

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
Nikl
Posts: 72
by Nikl » Sun Jun 24, 2018 6:53 pm
I’ve spent the weekend absolutely sick to my stomach with worry. I owe £27000, and I’m 8 months into an IVA where I pay £110 a month. I’m a single mum to three children, the youngest being 1. My parents have found out about the IVA and offered to pay the full amount over the 5 years as a F&F. I’ve had 4 meetings which have all been adjourned due to paperwork issues (Credit Fix). The latest meeting one creditor rejected it due to not receiving enough dividend. I’m not so so worried that the other creditors will reject too. I really want out of this IVA as my life is on hold and I want to move forward for me and the children. Please someone give me some hope!
User avatar
Foggy
Forum Expert
Posts: 27306
Contact
by Foggy » Sun Jun 24, 2018 7:12 pm
I would imagine the one that rejected also voted against the IVA in the first place and is just having another go! They were out voted then and CF are working to get them out voted again ( all guesswork on my part).

By accepting a F&F now, for the full amount they would have got over the next few years anyway, they are saving a chunk in administrations fees, so would be far better off saying yes now. To be frank, if any reject they are just being bloody minded!
Nikl
Posts: 72
by Nikl » Sun Jun 24, 2018 7:17 pm
Is there anyway I would be able to find out if they voted no for the IVA? Thank you for your response, just having a glimmer of hope is a massive help
User avatar
Foggy
Forum Expert
Posts: 27306
Contact
by Foggy » Sun Jun 24, 2018 7:31 pm
Nikl wrote:
Is there anyway I would be able to find out if they voted no for the IVA? Thank you for your response, just having a glimmer of hope is a massive help


Those that voted and the way they voted should be listed in the Chairman's Report of the initial meeting. You should have been sent a copy soon after the first creditors meeting.
Nikl
Posts: 72
by Nikl » Sun Jun 24, 2018 8:18 pm
I’ve just looked through and only £7000 creditors worth of the £27000 debt actually voted at the original meeting. This whole process has been so confusing
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 35 guests