Hi, anyone ever had their IVA proposal turned down ?

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Womble

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Post by Womble » Sun Nov 06, 2016 5:22 pm
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Hi, anyone ever had their iva proposal turned down at the creditors meeting stage? My decision has been delayed as creditors just didn't vote at all.
For what reasons would a proposal get rejected by them?
Womble
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Foggy

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Post by Foggy » Sun Nov 06, 2016 5:30 pm
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It doesn't happen very often, but could if your major creditor holds a deciding proportion of the vote and doesn't support IVA's.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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kallis3

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Post by kallis3 » Sun Nov 06, 2016 6:19 pm
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Hi Womble,

It may be they didn't get the paperwork in time. Take heart in the fact that there were no negative votes.

Speak to your IP asap in the morning.
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
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Michael Peoples

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Post by Michael Peoples » Mon Nov 07, 2016 9:56 am
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Very unusual to get no votes at all. I assume your IP is chasing this up before you run out of time.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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