Hi, how is an offer of Full and Final settelment accepted , is it put to a vote or do all creditors have to agree for it to go ahead and do you have to have a reason rather than just a really generous friend wanting to help you out ?
You will generally need to get creditor acceptance to an offer of early settlement - and you do not need a reason so long as the offer being made is similar to that originally offered. As with the original proposal you will need to secure a 75% voting majority on the day of the creditors meeting.
Good luck if this option is currently available to you.
Hi Melanie
Thanks for that, i know you wont be able to say for sure but on the 75% basis i will need HMRC to agree, is this likley to happen ? I have read loads on this forum, its nice to know im not alone and to get help from you.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by andy690
Hi Melanie
Thanks for that, i know you wont be able to say for sure but on the 75% basis i will need HMRC to agree, is this likley to happen ? I have read loads on this forum, its nice to know im not alone and to get help from you.
My understanding is that it is 75% of those that vote on the day - not sure what HMRC's voting history is like, but i know they are being challenged to ensure they maximise the returns from people that owe them.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
