"Still Negotiating"??

Get expert opinion. This is the place for new questions to be posted.
8 posts Page 1 of 1

Sammysled

Posts: 4
Joined: Tue Apr 16, 2019 5:19 pm

Post by Sammysled » Tue Apr 16, 2019 5:28 pm
Hi, I'm in the process of starting my IVA.
I have about 16000 debt and I am offering 100 a month. I'm not sure if this is a decent amount or not but it's all I have avaiable at the moment. I'm self employed and have no assets to speak of.
Any way my meeting of Creditors was this morning at 10.45 and I hadn't heard anything all day. I read on the forum that creditfix(who I'm with) is not the greatest company for communications so I just bit the bullet and contacted them through there online chat.
I've been told that the IP is still negotiating with my creditors at the moment.
I just really wandered if this is something I should worry about? I understood that I should have had a result not long after the meeting was held. Any way thanks for your time.

Foggy

User avatar
Forum Expert
Posts: 28338
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Apr 16, 2019 5:44 pm
This seems to be commonplace with Creditfix ---- for some reason they always get into a negotiation. I suspect it has something to do with their presentation deviating from the accepted and agreed norm or inflated fees ---- they have had numerous issues with this before. However, at least from the instances reported on this forum, they do seem to come good in the end.
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

Lisa Thomas

User avatar
Industry Expert
Posts: 7305
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Wed Apr 17, 2019 8:17 am
You need to ask CF.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Sammysled

Posts: 4
Joined: Tue Apr 16, 2019 5:19 pm

Post by Sammysled » Wed Apr 17, 2019 8:41 am
Thanks for the response foggy. Yes that would make sense going on what else I have read on the forum. Makes me feel a little better at least. If I do t hear anything today the. I will contact them again this evening.

Sammysled

Posts: 4
Joined: Tue Apr 16, 2019 5:19 pm

Post by Sammysled » Thu Apr 18, 2019 6:16 pm
As an update to this situation.....

I spoke to creditfix today and they have told me that Mbna had rejected the proposal (they form 40 percent of my debts) but strangely, according to my ip, they have not stated why. He said he has adjourned the case until Tuesday 23rd of April.
Very disappointed going into the Easter weekend to be honest. Had hoped to get it sorted before it.

kallis3

User avatar
Forum Expert
Posts: 74224
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Thu Apr 18, 2019 6:35 pm
If you have no assets and with that amount of debt you could consider BR.
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

Sammysled

Posts: 4
Joined: Tue Apr 16, 2019 5:19 pm

Post by Sammysled » Thu Apr 18, 2019 8:38 pm
Hi, yes I've I get mucked around by my creditors at all I have been thinking it is probably an option that I will consider. I am self employed and looked at bankruptcy as a last resort.

Foggy

User avatar
Forum Expert
Posts: 28338
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Apr 19, 2019 8:46 am
With some juggling you might even swing a DRO, if you have no assets, only a cheap vehicle (of the banger variety) and can get disposable income down enough. Worth an explortory chat with a DRO intermediary. https://www.citizensadvice.org.uk/debt- ... ef-orders/
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
8 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”