update on proposal

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Shining
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by Shining » Wed Jan 13, 2010 5:15 am
Crazy is true Melanie...I can only imagine your frustration.

 

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size5
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by size5 » Wed Jan 13, 2010 8:44 am
What a sad state of affairs, and a crazy world indeed where an honest man makes his best offer to meet his creditors halfway and gets flatly rejected. One day, someone, somewhere within the creditor community will wake up to the fact that greater returns for them can be achieved by meeting such people halfway back. I doubt that that day will be anytime soon, but surely it must come.

It does go to show though that ultimately it is the creditors decision as to whether to accept or not, so for anyone thinking of entering into an IVA it is essential that they speak to more than one firm to get a feel of what is right for them. It is also a good indication of why paying upfront fees for an IVA is not really a good idea, save for those firms which will refund in the event of rejection, as that money which will be lost in the event of rejection could have been put to better use.

Regards.

 

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ontheroad
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by ontheroad » Wed Jan 13, 2010 10:46 am
Thankyou all for your sympathetic post regarding the outcome of my case, yes it is a crazy world we live in but i suppose as the saying goes "thats the way of the world", I wanted to pay as much back to my creditors as i possibly could but that is not now possible, my wifes iva was accepted so we will do all we can there. We are looking positively to the future as we have a solution to sorting out our debts. As for how we feel, were ok, we really are because we feel we have done our best and has stated we do have a solution, so dont worry about us we will be fine. So with the superb help of our ip and you wonderful people on this sight its onwards and upwards to a debt free future, will keep you posted xx

 

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Declan at DebtFreeDirect
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by Declan at DebtFreeDirect » Wed Jan 13, 2010 10:54 am
As mentioned many times already Ontheroad, its Santanders loss. I hope everything goes well for you and rest assured that you do have the help and support of not only a superb IP in Melanie but also everyone on this forum.

Thanks

 

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casiquebrado
Posts: 138
by casiquebrado » Wed Jan 13, 2010 10:54 am
Hi otr , what a strange decision by a creditor.
No one expects a creditor to be 'happy' at not having a debt fully re-paid , but this looks to be a case of cutting off the nose etc.
If Melanie and her team can't reverse the decision , I doubt anyone can.
At least you can move forward.
Good luck to you and your better half.

 

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kallis3
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by kallis3 » Wed Jan 13, 2010 4:57 pm
Good luck ontheroad, to you and your wife. Just cannot think where Santander were coming from there and it serves them right that they will get nothing.

Please keep posting so we know how both of you are doing.

 

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ontheroad
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by ontheroad » Wed Jan 13, 2010 5:08 pm
Will do, thanx Jan xx

 

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Simbel
Posts: 348
by Simbel » Thu Jan 14, 2010 9:39 pm
Ontheroad, I so sorry to hear that your IVA was not accepted, i know how much you wanted this to work. However, as Melanie and everyone else says in this case it's Santander's loss, not yours. Keep posting and let us know how your getting on. All the best for you and your family X [8)]

 

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ontheroad
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by ontheroad » Fri Jan 15, 2010 6:35 am
Hi Simbel, thanks for your support, things are moving along now, we have downloaded the forms needed to file for my BR and will fill them in over the weekend {not saying one of them is a long form but thats our weekend taken care of} and then contact court to set a date for hearing, my wifes iva is now all set up and finalised with ip so thats great news and we are delighted with that, as for my proposal as stated earlier we and especially Mels team did everything possible to get it accepted but Santander dug their heels in and refused to change their decision. As for me, going BR is actually a good solution for us in our situation as work and home is under no threat from it, although i really wanted an iva it was not to be so that is how things are at the moment, they will actually lose out by not accepting {ironic isnt it}. Anyway we are absolutely fine with things{although nervous about court hearing} so dont worry about us as we have a solution to our debt problems, we are positive about the future. Good luck to you and your husband in your iva,s and best wishes to your family xx[:)]
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