Creditors meeting

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kallis3
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by kallis3 » Fri Aug 11, 2017 12:55 pm
Good point Michael!
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Foggy
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by Foggy » Fri Aug 11, 2017 12:57 pm
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
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by rae25 » Fri Aug 11, 2017 1:42 pm
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 .
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by Foggy » Fri Aug 11, 2017 1:45 pm
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 !
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Lisa Thomas
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by Lisa Thomas » Fri Aug 11, 2017 1:50 pm
Someone was proxy chasing me thinks...
rae25
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by rae25 » Fri Aug 11, 2017 1:52 pm
Sorry what is proxy chasing Lisa?
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Lisa Thomas
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by Lisa Thomas » Fri Aug 11, 2017 3:14 pm
Creditors that want to vote never attend the meeting physically in person so instead submit their vote via a proxy form.
rae25
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by rae25 » Fri Aug 11, 2017 5:02 pm
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?
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kallis3
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by kallis3 » Fri Aug 11, 2017 5:15 pm
Hi,

It looks as though the debt has been sold on.
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Foggy
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by Foggy » Fri Aug 11, 2017 5:39 pm
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
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by rae25 » Fri Aug 11, 2017 5:53 pm
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.
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Foggy
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by Foggy » Fri Aug 11, 2017 6:11 pm
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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Michael Peoples
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by Michael Peoples » Mon Aug 14, 2017 8:24 am
PRA seem to have a deal with Barclaycard whereby they buy all their IVA debts so this is normal practice. I am still curious about the creditor looking for an adjournment to a meeting that they did not know was being held!
rae25
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by rae25 » Mon Aug 14, 2017 12:02 pm
I guess I'll find out tomorrow I also thought it was strange they adjourned for just a few days rather than the two weeks they could have been entitled to? In 24 hours hopefully I'll know.
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by Foggy » Mon Aug 14, 2017 12:35 pm
rae25 wrote:
I guess I'll find out tomorrow I also thought it was strange they adjourned for just a few days rather than the two weeks they could have been entitled to? In 24 hours hopefully I'll know.



Fingers crossed again :-)
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