IVA Creditors Meeting this morning.. I'm terrified!

hunnybee

Hi all,

Well today is the day! Hubby and I have our creditors meeting today and I am terrified! It is al 11.30 and I am counting the seconds!

Since the IVA paperwork was sent to our creditors, we have had hardly any phone calls, is this a good thing or a bad thing or does it mean nothing! lol

Wish us luck and I will post with the verdict later!

fiveyearplan

Good luck hunnybee! Come back and update us.

hunnybee

Thanks fiveyearplan! I will let you know

hunnybee

Both were agreed with no modifications! :j Yippee!

GLYNRICHARDSON

hi

you dont go to the creditors meeting, its straight forward really.they will accept the plan, and you will start you IVA, not hearing anthing is very true as the IP will be setting everything up, for you.

It will be okay dont worry, take care..

althas

Fantastic news hunnybee, congratulations

I am still getting used to mine which was agreed a month ago, such great feeling

Here is to a debt free future, roll on 2014 [:)]

rethink

Can I ask how long the whole process took from start to being accpeted for the IVA ? I have a telephone meeting with Payplan with regards to IVA we have over £80K debt so hope the IVA will be agreed.

Thanks and well done :0)

Nick700

The whole process tends to take from 6 weeks to 12 week from start to finish depending on the Insolvency Practitioner, how efficient they are and how quick you are at returning the paperwork required to them.

But don't worry most Insolvency Practitioners will speak to your creditors at an early stage to help stop phone calls and legal action while an IVA is being set up for you.

Nick

Raindrops_3

Mine has been going on since the beginning of June and the IP still hasn't got a date for a meeting, he's hoping to have some news for us in the next couple of weeks.

The phonecalls have been troublesome and Mercers have been awful threatening me with doorstep collections and phoning from 8.30am to 9pm, the record was 8 calls in one day.

I'm hoping we are coming to the end (beginning??) now and the IVA can finally get on track.

Charco_2

Hey Raindrops, there's two waiting periods when setting up an IVA - there's the "how long is a piece of string?" part which just depends on how quickly the IP can research and verify the necessary information (this relies on a fair bit of co-operation from the individual... and from the creditors :mad:). This is followed by the statutory waiting time from when the signed proposal is issued to the creditors for their perusal in the lead up the creditors meeting.

Nick700

Good afternoon,

If you have been waiting since the start of June(16 weeks), I think you are entitled to ask the IP why it is taking so long and if there is specific information they require from you. Naturally you want to get the IVA in place as quickly as possible, to avoid continuing hassle from creditors and for your own peace of mind.

Let me know how you get on - and if you are not having any success with your IP, it may be worth approaching one or two other IVA companies, some of whom can set up an IVA in 6-8 weeks.

Nick