IVA Creditor meeting today

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kallis3
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by kallis3 » Wed Jan 09, 2019 5:17 pm
I really feel for you - they will know the answer by now!
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Buddy1
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by Buddy1 » Wed Jan 09, 2019 5:18 pm
I hope you’ve heard by now and it’s good news! Sounds like they’ve been chasing creditors which is so unfair when you’ve already waited so long. This is the start of being debt free now, well done for taking control- the relief you will feel is unbelievable.
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sarah341
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by sarah341 » Wed Jan 09, 2019 5:21 pm
Yes she said sorry for delay we were chasing few creditor. But she didn’t tell me about the outcome
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sarah341
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by sarah341 » Wed Jan 09, 2019 5:22 pm
Thanks for being here for me. Still no call
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kallis3
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by kallis3 » Wed Jan 09, 2019 5:32 pm
How awful for you.
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sarah341
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by sarah341 » Wed Jan 09, 2019 5:38 pm
I’ve just had a call it’s been accepted, the creditor wanted a modification for my IVA company to do in their charges and that’s why it took longer, my payment stay the same. All creditor voted and accepted but Zopa didn’t vote at all yes or no, but they said they take that as yes when there is no vote.
It’s such a relief. Thanks a lot for your support.
Ps. They took the first IVA payment over the phone by the long card number not direct debit she said we do automatic direct payment which is similar to direct debit is this normal?
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kallis3
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by kallis3 » Wed Jan 09, 2019 5:42 pm
Brilliant news! So pleased for you.
Vince_100
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by Vince_100 » Wed Jan 09, 2019 5:53 pm
Brilliant news. It is a huge weight off your shoulders. Hope you stick around on the forum, I started my IVA last April so getting into the swing of IVA life now. :-)
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sarah341
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by sarah341 » Wed Jan 09, 2019 6:33 pm
Yes I will definitely be around for next 5 years at least. I feel like a different person.
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Foggy
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by Foggy » Wed Jan 09, 2019 6:38 pm
Excellent ! Well done. It sounds like you are paying by CPA (Continuous Payment Authority). The end result is the same as by direct debit -- but I am not sure about whether the usual driect debit guarantees apply.
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sarah341
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by sarah341 » Wed Jan 09, 2019 6:49 pm
Foggy wrote:
Excellent ! Well done. It sounds like you are paying by CPA (Continuous Payment Authority). The end result is the same as by direct debit -- but I am not sure about whether the usual driect debit guarantees apply.

Yes she said it’s different to direct debit but worked the same way.
Sorry but I have anoutger question Zopa had most of my credit around 45% and the lady on the phone said they didn’t vote, but they legally bind to IVA. I’m just worried now as I open a letter from zopa today that I missed my payment. The lady said ignore it but how this is possible that my IVA approved with out zopa voting, she said if they don’t vote it’s consider as yes,I’m very confused would you please help. Is this correct? :?:
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Foggy
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by Foggy » Wed Jan 09, 2019 6:55 pm
sarah341 wrote:
Foggy wrote:
Excellent ! Well done. It sounds like you are paying by CPA (Continuous Payment Authority). The end result is the same as by direct debit -- but I am not sure about whether the usual driect debit guarantees apply.

Yes she said it’s different to direct debit but worked the same way.
Sorry but I have anoutger question Zopa had most of my credit around 45% and the lady on the phone said they didn’t vote, but they legally bind to IVA. I’m just worried now as I open a letter from zopa today that I missed my payment. The lady said ignore it but how this is possible that my IVA approved with out zopa voting, she said if they don’t vote it’s consider as yes,I’m very confused would you please help. Is this correct? :?:


Those creditors who do not vote are bound by the IVA rwegardless. It isn't technically a "yes" vote --- but it isn't a "no" either ! To be accepted the IVA needs a yes from at least 75% (by value) of those creditors who actually vote ---- so, if only one bothered to vote and they said "yes" the IVA would be accepted and all creditors bound in.

You might get reminders and requests for payment for a short while, until it filters through their systems. Don't worry about them.
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sarah341
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by sarah341 » Wed Jan 09, 2019 7:01 pm
Foggy wrote:
sarah341 wrote:
Foggy wrote:
Excellent ! Well done. It sounds like you are paying by CPA (Continuous Payment Authority). The end result is the same as by direct debit -- but I am not sure about whether the usual driect debit guarantees apply.

Yes she said it’s different to direct debit but worked the same way.
Sorry but I have anoutger question Zopa had most of my credit around 45% and the lady on the phone said they didn’t vote, but they legally bind to IVA. I’m just worried now as I open a letter from zopa today that I missed my payment. The lady said ignore it but how this is possible that my IVA approved with out zopa voting, she said if they don’t vote it’s consider as yes,I’m very confused would you please help. Is this correct? :?:


Those creditors who do not vote are bound by the IVA rwegardless. It isn't technically a "yes" vote --- but it isn't a "no" either ! To be accepted the IVA needs a yes from at least 75% (by value) of those creditors who actually vote ---- so, if only one bothered to vote and they said "yes" the IVA would be accepted and all creditors bound in.

You might get reminders and requests for payment for a short while, until it filters through their systems. Don't worry about them.

Thanks a lot foggy for your reply, I do get it now that you explained. Thanks everyone in this forum. Honestly I don’t know what I would have done whit out you guys here to support at any time. Thank you
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kallis3
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by kallis3 » Wed Jan 09, 2019 7:02 pm
You can tell them all to do one now!!
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sarah341
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by sarah341 » Wed Jan 09, 2019 7:08 pm
kallis3 wrote:
You can tell them all to do one now!!

To do one now?
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