IVA creditors meeting Thursday

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Rm555

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Post by Rm555 » Fri Aug 21, 2020 6:57 pm
I have chosen to go for an iva, the company I have chosen to go with are Financial Support Systems.. They have put a proposal together at 49.9p dividend?, is this a good enough proposal to get accepted... im worried sick

Foggy

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Post by Foggy » Fri Aug 21, 2020 7:01 pm
49.9 p is a very healthy dividend and stands a very good chance of getting through. Best of luck with your proposal.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Fri Aug 21, 2020 8:11 pm
Good luck!
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.
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luluj

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Post by luluj » Sat Aug 22, 2020 8:08 pm
wish you the best with your iva.. let us know how you get on with your creditors meeting
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

Rm555

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Post by Rm555 » Mon Aug 24, 2020 4:20 pm
Fri Aug 21, 2020 7:01 pmFoggy wrote:
49.9 p is a very healthy dividend and stands a very good chance of getting through. Best of luck with your proposal.
Looked at my proposal again and its actually 49.39 dividend, im stressing out..... would you think it will be accepted?

Foggy

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Post by Foggy » Mon Aug 24, 2020 4:26 pm
Mon Aug 24, 2020 4:20 pmRm555 wrote:
Fri Aug 21, 2020 7:01 pmFoggy wrote:
49.9 p is a very healthy dividend and stands a very good chance of getting through. Best of luck with your proposal.
Looked at my proposal again and its actually 49.39 dividend, im stressing out..... would you think it will be accepted?
Mine was 32p and most I have seen getting accepted are around that sort of figure ( around a third of the debt ).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Mon Aug 24, 2020 4:49 pm
Mine was 39p if I remember rightly and I had no problems. I'm sure you'll be fine.
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

WallE

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Post by WallE » Mon Aug 24, 2020 8:42 pm
That's a very healthy dividend, you should be fine.

Rm555

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Post by Rm555 » Tue Aug 25, 2020 3:12 pm
Just spoken to the iva company and admiral are the only ones who have returned a vote as yet... they say they've rejected it?

Rm555

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Post by Rm555 » Tue Aug 25, 2020 3:21 pm
Mon Aug 24, 2020 4:26 pmFoggy wrote:
Mon Aug 24, 2020 4:20 pmRm555 wrote:
Fri Aug 21, 2020 7:01 pmFoggy wrote:
49.9 p is a very healthy dividend and stands a very good chance of getting through. Best of luck with your proposal.
Looked at my proposal again and its actually 49.39 dividend, im stressing out..... would you think it will be accepted?
Mine was 32p and most I have seen getting accepted are around that sort of figure ( around a third of the debt ).
Just spoken to the iva company and admiral are the only ones who have returned a vote as yet... they say they've rejected it?

Rm555

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Joined: Fri Aug 21, 2020 6:52 pm

Post by Rm555 » Tue Aug 25, 2020 3:22 pm
Just spoken to the iva company and admiral are the only ones who have returned a vote as yet... they say they've rejected it?

kallis3

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Post by kallis3 » Tue Aug 25, 2020 4:00 pm
As long as. you get 75% by value of the other creditors then their vote won't matter and they will be bound by the IVA. Who is your largest creditor?
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

Rm555

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Joined: Fri Aug 21, 2020 6:52 pm

Post by Rm555 » Tue Aug 25, 2020 4:08 pm
Tue Aug 25, 2020 4:00 pmkallis3 wrote:
As long as. you get 75% by value of the other creditors then their vote won't matter and they will be bound by the IVA. Who is your largest creditor?
My largest creditor is Creation, but they are part of the insolvency exchange which apparently always vote in favour of whatever the outcome is.... my next after the asdmiral one is a private one, rather not say on here.... but they apparently when first contacted said they would be in favour of an iva as they said at least they would get something back.

kallis3

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Post by kallis3 » Tue Aug 25, 2020 4:31 pm
Hopefully Creation and your other one will vote in favour.
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

WallE

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Post by WallE » Tue Aug 25, 2020 7:58 pm
TIX (account servicer for creation) should look favourably on that dividend, provided your income and expenditure makes sense. Like has been said, that's a really healthy dividend rate, especially these days.

I've seen arrangements approved on so much less.

Good luck
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