Michael Peoples wrote:How did the creditor know there was a meeting of creditors if they never received the proposal? Sounds a bit odd to me.
Could be a ruse by the creditor for more time (i.e they overlooked the meeting) or they were uninformed ... did not vote ... and the votes in were insufficient for a yes, so they IP canvassed the other (missing) creditor, who then became aware.
rae25 wrote:I'm so confused but they said it can happen as a stalling tactic (could believe as I'm receiving constant calls to work and mobile and texts) from one particular creditor and they said its still looking fine. I'm holding on to the hope it's in creditfix's interest for the iva to be accepted .
It is in CF's interests to get the arrangement accepted -- the Nominees fees of around £1500 will not be paid if rejected, and this is for work already done !
rae25 wrote:Ah thank you. I have now had a letter from barclays saying the debt has been moved to pra group while iva is going through application?
Ah -- it might well be the new debt owners who are uninformed -- bad timing! On the plus side -- they will have paid peanuts for the debt so the dividend in an IVA might still give them a profit and they might be more inclined to say yes.
rae25 wrote:seems they've sold it on purely as I've applied for iva because up until last month I'd never missed payments so had no other reason to sell it on.
All lenders sell on toxic debt in "auction type" lots -- it's just the luck of the draw (or otherwise) to be in a sold lot now.
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