Light at the end of the tunnel .....

FoggyBrain_2

Hi Max. The first 4 months are higher because they include tax and NI due from a part time self employed job the wife does. HMRC gets its money first !!! Technically, I can say (which is actually true) it's money already set aside for the expected tax bill, so not coming from my income.

FoggyBrain_2

Well draft proposal went back monday evening ---- letter arrived this morning saying creditors meeting has been convened for 17th December. So, fingers crossed it goes through and is sorted without too much tweaking. Dividend offered is 24%, so TiX will probably go for some more.

Max_1066

That is quick. Re the dividend % the creditors will probably try to get the IP fees down however 24% seems quite good (IMHO). My dividend was 23% (14% after fees) although I had already paid off £4000 during the DMP.

Good luck to you, keep us posted.

mia1830

Hi,

We have our meeting on the 14th December and have everything crossed it goes well. We are looking at paying £160pm for the 1st 27 months then it will go up to £317 as our car will be paid off then. They are also looking at a further 12 months as we will not be able to re-mortgage as we have a co-ownership house which is a 50% share and I know they will not let us remortgage for debt repayment. I am sure we can manage this payment and hope we don't get refused or they expect alot more. Fingers crossed guys and good luck to you all to :beer:

FoggyBrain_2

Cheers Max.
Fingers crossed for you Mia, best of luck with it --- let us know how it all goes.