creditors votes

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crg

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Post by crg » Mon Aug 13, 2007 4:57 pm
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hi all

i wondered how this works, i have different 2 loans with welcome finance, does that count as one vote or two?

thanks
crg
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MelanieGiles

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Post by MelanieGiles » Mon Aug 13, 2007 5:02 pm
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Two!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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iva_squirrel

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Post by iva_squirrel » Mon Aug 13, 2007 8:56 pm
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Good evening,

In the IVA, 75% in value of the creditors that vote must vote in favour of the arrangement for it to be approved. What percentage is Welcome Finance?


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Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

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Credit Today Awards 2007 http://www.credittoday.co.uk/awards/winners.htm
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crg

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Post by crg » Tue Aug 14, 2007 6:09 am
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Hi,

I owe around £32000 and welcome combinded is about £7500 so that would make it around 23%

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crg
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crg

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Post by crg » Tue Aug 14, 2007 6:30 am
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just a quick one, i have 7 creditors, am i right in saying that if only one votes and the other six dont then thats a 100% acceptance or am i calculating it wrong.

thanks
crg
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MelanieGiles

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Post by MelanieGiles » Tue Aug 14, 2007 7:57 am
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You are absolutely correct, crg, and it looks like you have the makings of a viable IVA.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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