I applied for an IVA about a month ago the initial process was so smooth and quick and once proposal signed had to wait 2 weeks for creditors meeting. First meeting was 7 days ago and since then been adjourned 4 times.
I keep ringing for updates but just get told waiting for votes. Today I got put through the creditors meeting team who told me 35% have rejected so they are trying to negotiate ect.. I am thinking now at this point my IVA is going to be rejected. has anyone any experience with this? and what are your thoughts?
Hi, can I ask a question if you don’t mind, while you are waiting for the IVA to be approved do you still have to pay your creditors? I also applied for my IVA on the 10th and have a meeting on the 2nd September and my IP said that during this period as I am going through my IVA I will not have to pay them as I am going through this process MBNA and Virgin have both frozen my accounts but Halifax sent me email and text to say that I have cancelled my direct debit and I should reinstate it to not fall on my payments etc
You don't have to pay your creditors - most of us didn't. Some made token amounts. It will make no difference and may allow you to build up a bit of a contingency fund.
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
Sat Aug 22, 2020 7:55 amkallis3 wrote:
You don't have to pay your creditors - most of us didn't. Some made token amounts. It will make no difference and may allow you to build up a bit of a contingency fund.
It will not stop them asking for it if they wish, nor will they have to freeze anything and most don't.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Sat Aug 22, 2020 5:40 amjessica489 wrote:
I applied for an IVA about a month ago the initial process was so smooth and quick and once proposal signed had to wait 2 weeks for creditors meeting. First meeting was 7 days ago and since then been adjourned 4 times.
I keep ringing for updates but just get told waiting for votes. Today I got put through the creditors meeting team who told me 35% have rejected so they are trying to negotiate ect.. I am thinking now at this point my IVA is going to be rejected. has anyone any experience with this? and what are your thoughts?
Jessica -- are you going with CF by any chance ? They seem to have a track record of getting themselves in this position, but do often turn the tables. So keep those fingers crossed.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
yes I am with Creditfix. I really hope they can turn it around. Such a stressful time. There communication with me has been so poor aswell. they have never contacted me about outcomes of any meetings ect.. I have had to ring them. very concerning
