Early Exit Loan

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Waitingforship
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by Waitingforship » Thu Sep 07, 2017 11:52 pm
Thanks Foggy. I did wonder that. Well tomorrow is DDay. If it gets adjourned again. I will withdraw. But I still hope it goes through. But no point worrying I guess. It's all out of my control.
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kallis3
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by kallis3 » Fri Sep 08, 2017 5:47 am
I'll be thinking of you again. :)
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Foggy
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by Foggy » Fri Sep 08, 2017 6:42 am
Best of luck for Round Two !
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Michael Peoples
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by Michael Peoples » Fri Sep 08, 2017 8:10 am
Best of luck from me too but at least it will be resolved one way or the other today.
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Waitingforship
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by Waitingforship » Fri Sep 08, 2017 11:58 am
Ok so Foggy was right they had been chasing votes. The votes in favour of accepting the offer were 73% with one creditor still to vote. I needed 75% majority apparently. Well the final creditor decided it was not their companies policy to vote ???,%#}. So the offer was rejected. So no freedom for me for another 14 months. Gutted. I reckon I earned over a grand on o/t to be paid next month, which I don't get to do very often. This was going to offset my wife's lack of wages and none eligibility for sick pay. But I stupidly claimed my married Tax Allowance which gained me a cheque for £432 quid. So this rejection means the tax is owed to my IVA and in addition my share of the overtime will be wiped out on that. Never count your chickens my old mum used to say. Hey ho...
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kallis3
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by kallis3 » Fri Sep 08, 2017 12:09 pm
It is usually 75% by value of creditors who vote on the day so if one doesn't vote it shouldn't matter and they should be bound by the result.

I really feel for you and so sorry. :cry:
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Michael Peoples
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by Michael Peoples » Fri Sep 08, 2017 1:00 pm
That is a shame but perhaps try and argue that the tax is a windfall, under £500 and thus exempt. In addition do a new I&E to take into account the reduction in your wife's earnings and perhaps the hit will not be so bad.
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kallis3
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by kallis3 » Fri Sep 08, 2017 1:23 pm
Look on the positive side - once you have finished you will be totally debt free.
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Foggy
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by Foggy » Fri Sep 08, 2017 1:25 pm
Bit of a kick -- and so darned close too !! But, as Kallis says, at least you know where you are now and are still travelling in the right direction.
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Waitingforship
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by Waitingforship » Fri Sep 08, 2017 2:03 pm
Thanks for the support guys. Really appreciated.
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