| T O P I C R E V I E W |
| m and v |
Posted - 07 May 2008 : 07:50:21
Hi experts - just out of interest......
When I was in my IVA our parents were in a position to lend us a lump sum to pay off the IVA.
With £63k of debt, my creditors declined £18k then £25k in 2007. (They wanted the money and me to continue paying into my IVA!!)
Clearly this was a loan from parents and there was no way I could pay them back AND continue paying my IVA.
So here I am - BR.
I would be interested in your opinion on the refusal of these lump sums.
Vicki x |
| 8 L A T E S T R E P L I E S (Newest First) |
| m and v |
Posted - 08 May 2008 : 13:44:14
Thank you - am getting a bit nervous about it now - stupid I know! Be glad when this bit is done so I know if I am going to have an IPA.
Vicki x |
| JulianDonnelly |
Posted - 08 May 2008 : 11:11:19
Hi Vicki,
Yes inform the OR of what your mother offered to do and that these offers were declined by your creditors, I think you have done everything you could to improve your creditors situation and this will reflect well on you at the interview.
Good luck tomorrow
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| m and v |
Posted - 08 May 2008 : 07:46:26
I have just looked back through my docs and if I am reading them correctly my creditors haven't had a penny. I have literally paid my IVA fees.
I assume I am right in telling the OR I have offered these two lump sums? Have my OR phone interview tomorrow afternoon. Thanks
Vicki x |
| Reviva UK |
Posted - 07 May 2008 : 23:17:37
The world is MAD!
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
| melanie_giles |
Posted - 07 May 2008 : 21:39:42
I think your creditors are barking mad to have turned down your offer, and it goes to show that sometimes they are just not commercial beings!
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
| JulianDonnelly |
Posted - 07 May 2008 : 15:03:03
Hi Vicki,
It is a shame, but Hindsight is always a wonderful thing
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| m and v |
Posted - 07 May 2008 : 14:39:50
I just feel I was pushed towards BR as soon as I had paid enough into my IVA to cover the IVA costs. The creditors weren't going to get sight of much of my cash in the first place.
I am not even sure whether my creditors actually knew of both offers.
I have to say though, with hindsight, I should have gone BR from the start - two years less of struggling and worry, a few less grey hairs and it would have all been over and done with by now! Oh well!
Vicki x |
| JulianDonnelly |
Posted - 07 May 2008 : 12:19:55
Hi Vicki,
I think the creditors make some ridiculous decisions and due to this have lost out on what was potentially a good return.
It amazes me that creditors have put the squeeze on the percentages they are accepting and also the squeeze they have put on the IP's fees.
Due to the creditors decisions I think we shall see more cases like yours and will see Bankruptcies grow in number, however Im sure the creditors won't see that this is of their doing and will blame it on the Bankruptcy rules being to soft.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
