If they did not vote but were aware (on the list) then that is there choice. As long as you get a 75% vote the IVA is accepted and Creditors are then bound by it
hi sazzy
rays correct.
if they were listed and informed they are bound-even if they chose not to vote
i had the same with mine-some didnt bother voting but they are still bound.
If they do not vote, I think they are deemed to have accepted, so it should go through ok.
Not 100% sure on that though.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
If 75% of the amount of money that votes is in favour the IVA is approved whether the others vote or not. I once had an IVA approved on a £90.00 Christmas hamper out of total debts of £44k. The others were bound as they had the right to vote but did not exercise it.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
And Michael will also remember the IVA that we both worked on (when we were colleagues) that got accepted on the basis of a £40 dentist's bill! 100% at the end of the day.
Dentists eh? Don't you just love 'em? I am still wincing from the near £400 bill I had for a false tooth when I got hit flush by a cricket ball at a very high speed.
They frighten me to death.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sorry, just so I can get this clear in my head? With Michaels example, ONE creditor with a £90.00 interest from a Xmas hamper was the only one to vote out of total debts of £44,000 so because the others chose not to vote, they were deemed to have accepted the IVA??
