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Foggy
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by Foggy » Thu Jun 29, 2017 7:27 pm
ryan787 wrote:
Foggy wrote:
ryan787 wrote:


What are normal reasons for Beeing turned down foggy ? .


Usually if the creditors think they might get more return from other debt enforcement -- at the end of the day it is a commercial decision. Your proposal will demonstrate that an IVA will give them more than, for instance, bankruptcy.


I've offered them £160 a month for 23,000 debt which leaves me too pay back £9000 does that sound reasonable ?



Without working it out -- you have a dividend over 25 pence in the pound after fees. I have seen as low as 9 pence in the pound accepted ( mine was 31 pence). So, yes, that is a reasonable return for the creditors, by IVA standards and more than they would probably get if they sold the debt on.
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kallis3
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by kallis3 » Thu Jun 29, 2017 7:29 pm
We owed more than 80k and were approved.
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moira717
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by moira717 » Fri Jun 30, 2017 6:11 am
I owed 50,000 and mine was accepted paying back 15p in the pound. You will be fine, will look for a positive post next week!
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Lisa Thomas
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by Lisa Thomas » Fri Jun 30, 2017 8:27 am
Ryan

Please try to stop worrying about it - in the majority of cases debtors are advised to stop paying their creditors - this is because you are insolvent.

Just because you stopped your payments at the last minute is not a genuine reason to reject your IVA terms - if anything it goes to prove that you are insolvent and unable to pay your debts as and when they fall due.

If your IP did not think the IVA had a good chance of being sucessfully accepted and implemented they would not have been able to recommend it to the creditors.
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ryan787
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by ryan787 » Fri Jun 30, 2017 12:37 pm
Lisa Thomas wrote:
Ryan

Please try to stop worrying about it - in the majority of cases debtors are advised to stop paying their creditors - this is because you are insolvent.

Just because you stopped your payments at the last minute is not a genuine reason to reject your IVA terms - if anything it goes to prove that you are insolvent and unable to pay your debts as and when they fall due.

If your IP did not think the IVA had a good chance of being sucessfully accepted and implemented they would not have been able to recommend it to the creditors.

I've cancelled the direct debits for both of the loans will that look bad ?
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harrysmummy78
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by harrysmummy78 » Fri Jun 30, 2017 12:48 pm
No This will not look bad Ryan - this it what we all did it will have no effect on how creditors will vote, you do not have long to go now until your meeting you will be absolutely fine I am sure try to take your mind off it the next few days keep busy that is what I am doing !! :)
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kallis3
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by kallis3 » Fri Jun 30, 2017 1:44 pm
As previously posted - it will not look bad at all. I didn't pay any of mine for a few months and, apart from the letters and annoying phone calls it was fine. Your meeting is in less than a week so please look forward to that. You will be fine. See if you can enjoy your weekend and then you are almost there. Be positive!
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ryan787
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by ryan787 » Sat Jul 01, 2017 11:47 am
kallis3 wrote:
As previously posted - it will not look bad at all. I didn't pay any of mine for a few months and, apart from the letters and annoying phone calls it was fine. Your meeting is in less than a week so please look forward to that. You will be fine. See if you can enjoy your weekend and then you are almost there. Be positive!


I've cancelled the hitachi direct debit though is that something I shouldn't have done ?
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kallis3
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by kallis3 » Sat Jul 01, 2017 12:43 pm
No - you cancel all payments to creditors and save some money for an emergency fund .
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Foggy
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by Foggy » Sat Jul 01, 2017 12:44 pm
kallis3 wrote:
No - you cancel all payments to creditors and save some money for an emergency fund .



Unsecured creditors, that is.
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ryan787
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by ryan787 » Sat Jul 01, 2017 12:46 pm
Foggy wrote:
kallis3 wrote:
No - you cancel all payments to creditors and save some money for an emergency fund .



Unsecured creditors, that is.


I haven't cancelled Lioyds has I got told I'd know a answer before the next due date .
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kallis3
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by kallis3 » Sat Jul 01, 2017 12:50 pm
Is Hitachi secured and not included in your IVAt
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kallis3
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by kallis3 » Sat Jul 01, 2017 12:51 pm
As you need to cancel Lloyds I would do it now.
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ryan787
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by ryan787 » Sat Jul 01, 2017 12:54 pm
kallis3 wrote:
As you need to cancel Lloyds I would do it now.


No hitachi Is included with the IVA.

My payment for Lioyds comes out on the 16th and my meeting is on the 5th so I was told I should be fine .

But if it makes sense I'll cancel it Monday
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kallis3
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by kallis3 » Sat Jul 01, 2017 12:56 pm
Sorry - your last post confused me as you had put quotes in from both myself and Foggy.

Cancel all of your DD's!
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