I am just in the process of signing everything and getting it back to Paypal so I dont know yet when the meeting will be. I did ask for reassurance from Paypal and they said pretty much what you did. I suppose the thing I am worried about is one loan is for £25,000 and if they dont vote yes it will scupper the whole thing, its with Northern Rock (an unsecured loan) I think I will just have to be patient and wait and see. I was hoping someone on here might have had experience will a low dividend.
I'm sure other IP companies have put forward very low dividends before and been accepted.
Do you have any assets? If not, then the other thing is bankruptcy and your creditors will get nothing. I'm sure they will see sense.
I am sure that your own IP will be happy to put your mind at rest for you, and I agree also that they would not propose it if they did not think it was viable.
Good luck and regards.
I have asked them to change a parargraph which said we would hand over all overtime to creditors I was under the impression that you only needed to give a % this will be the only money we have for any unforseen
emergencies. Can anyone clarify that. I'm just waiting to hear from Payplan. Also my son turns 18 in May and he is starting a training scheme which pays 95.00 per week
how much would he be expected to contribute
towards household expenses.
I have the 10% plus 50/50 clause with mine, and as I said, I'm with Payplan.
Has anything been mentioned about your son contributing? As he is earning so little, then he can't be expected to put in that much.
Even though you are at the proposal stage, you don't have to stick with them if you're not happy. You could ring one or two other companies and see what they say.
The overtime I'm not sure how it works will all companies, but with mine it's keep the first 10% and then it's 50/50.
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