reasons for creditors rejecting iva proposal

[dorset70]

Can anyone advise me on the usual reasons creditors give for rejecting an iva proposal at creditors meetings?

Worried and anxious!!

[Keepingmyheadabovewater]

hi dorest in a iva you have to offer them the creditors something they cant get in if you go bankrupt it maybe a room of leather coats if you go bankrupt creditors will only give £1.00 but in a iva they could get £100 each for them it regarding why creditors rejecting it could be a number of things could be income and expenditure maybe they dont feel they are geting a good deal the very best person to ask in this forum is menanie giles shes a ip

JOHN

[MelanieGiles]

There could be many reasons why creditors might not see your IVA as viable, Dorset, but please have faith inyour IP - they would not have put forward an IVA for you if they felt that it would be rejceted. So long as you are making the best offer to your repayment ability, you should sail through! Good luck.

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

[dorset70]

Thank you Melanie and John,

I know I am worrying too much, human nature and thank you for the sound advice and good wishes.

Am going to have an early night and try to keep busy tomorrow morning.

[Magic]

Best wishes Dorset I agree with Melanie no IP worth their salt would put forward an untenable proposal so there is hope keep your chin up please don't let it ruin your life altogether keep us informed

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