IVA approved but only 2 creditors voted

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Joanne.40

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Post by Joanne.40 » Sat Oct 19, 2013 1:04 am
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Hi
I am pleased to say our IVA was approved on Monday however when we received the paperwork to sign we noted that only two creditors on each of our lists (my husbands and mine) had voted. I was surprised that more hadn't voted, we have about 10 creditors each. Tax credits didn't vote and currently take money out of my account for overpayment, this isn't a direct debit so I am going to have to close the account I think.

I suppose my question or querie is, the companies that didn't vote, I am assuming have to now abide by the IVA or can they contest it.

We have signed the paperwork and sent it back.
Thanks guys... x
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Shining

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Post by Shining » Sat Oct 19, 2013 2:06 am
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Hi, fab news. The companies that didn't vote certainly are bound by the terms and conditions of the IVA. You're on your way to debt freedom. All the best x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Foggy

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Post by Foggy » Sat Oct 19, 2013 9:10 am
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Hi Joanne ... great news ... as Lesley says, all the creditors in your IVA ( which should be all you owe money too) are bound, whether they voted or not. You might still hear from one or two for a few weeks as it takes a while for the information to filter through their systems.
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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Julie.04

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Post by Julie.04 » Sat Oct 19, 2013 3:15 pm
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who were your other creditors with as I have my meeting in nov.
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UpToMyNeckInIt

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Post by UpToMyNeckInIt » Sat Oct 19, 2013 5:43 pm
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Hi Joanne,

Familiar story: £14,000 of my £35k debt was with MBNA, and they didn't bother voting.

Just tells me that this money is 'small change' to some of these creditors.
My opinions are just that: Based on my experience and being a self-employed IVA customer.
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Michael Peoples

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Post by Michael Peoples » Sat Oct 19, 2013 6:46 pm
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Congratulations on the successful IVA. The creditors who did not vote are bound including HMRC and they now must restore your full entitlement. They rarely vote for tax credit debts.
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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MelanieGiles

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Post by MelanieGiles » Mon Oct 21, 2013 1:31 am
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One positive vote is enough, and it seems that you have a successful result there, so well done to all concerned.
Regards, Melanie Giles, Insolvency Practitioner
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luluj

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Post by luluj » Tue Oct 22, 2013 4:11 am
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Congratulations .... Focus on moving forwards ..no looking back
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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kev59

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Post by kev59 » Tue Oct 22, 2013 6:01 am
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well done, just keep looking forward and post posting.
IVA now over with and it was worth it.
now starting my life again,
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Joanne.40

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Post by Joanne.40 » Tue Oct 22, 2013 10:56 pm
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Thanks everyone. Being on this forum is such a big help, makes you realise you are NOT on your own.
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MelanieGiles

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Post by MelanieGiles » Tue Oct 22, 2013 11:40 pm
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You are never on your own on this forum Joanne, it is a fantastic source of support and comfort to all posters through good times and bade - even for those of us who work in the profession who are known to have the occasional bad day!
Regards, Melanie Giles, Insolvency Practitioner
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