Hi SF,
Only just read this, I am so pleased you have managed to get another job, fingers crossed everything else that happens for the rest of your IVA is small and managable,
If life is what you make it, I must have been in a strange mood when I made mine
Good news I know what its like to be facing redundancy have had that twice in the last two years. Fortunately I have just been spared which is such a relief for now at least. Dont fancy my chances of getting another job at my age.
Good luck to you SF
Linda
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
good luck sinking fast your in good hands which must give you great comfort.your lucky to have mel and here team for support. you have made a excellent choice to manage your iva.
Last edited by MRBLUESKY on Sat Sep 25, 2010 7:32 pm, edited 1 time in total.
Yes Bluesky its reassuring knowing weve got one of the industries best IP's on side. Country Girl, I hope you remain secure going forward. Its daunting enough having to face your debt demons; then finding out your position is to be made redundant just compounds the issue.
MRBLUESKY wrote:
good luck sinking fast your in good hands which must give you great comfort.your lucky to have mel and here team for support. you have made a excellent choice to manage your iva.
Last edited by Sinking Fast on Sat Sep 25, 2010 8:50 pm, edited 1 time in total.
Well today we have submitted a new I&E into Melanie and the team. It is more than the 15% (more like 27%), whereby an IP can use their own discretion to alter down the IVA payments, so no doubt a meeting of creditors will have to be called.
Does anybody know how long it takes for a meeting of creditors to take place in situations of this nature?
Sinking Fast wrote:
Well today we have submitted a new I&E into Melanie and the team. It is more than the 15% (more like 27%), whereby an IP can use their own discretion to alter down the IVA payments, so no doubt a meeting of creditors will have to be called.
Does anybody know how long it takes for a meeting of creditors to take place in situations of this nature?
I think you mean how long does it take for the IP to prepare the report. We tend to try and coincide these with annual reports to save on costs, but it is likely that this will occur once you are in default of the IVA - ie you have missed the equivalent of three full monthly payments.
I was actually referring to the time-frame from us submitting a new I&E form, and the creditors meeting being called due to the fact our payments will drop by more than the 15%.
Could creditors now reject our IVA, because of the drop in monthly payments?
MelanieGiles wrote:
I think you mean how long does it take for the IP to prepare the report. We tend to try and coincide these with annual reports to save on costs, but it is likely that this will occur once you are in default of the IVA - ie you have missed the equivalent of three full monthly payments.
Last edited by Sinking Fast on Tue Sep 28, 2010 3:58 pm, edited 1 time in total.
