Recd the bold below from my supervisor the other day.
What does it mean - negotiate?
How does the supervisor know what each creditor wants??
Creditors are unlikely to turn up and will probably vote via fax, usually on the day before the Meeting or on that day.
If they reject the offer, we will usually negotiate with the creditor in order to come to an alternative agreement. We will, of course, keep you informed.
Each creditor will have a chance to vote for the variation if only one says yes and the others dont vote they are tied to the decision and the offer will stand as for negotiate this is if the creditors want any extra to close it etc.But the offer looks excellent considering the current economic climate try not to worry
good luck
Last edited by lost on Mon Jan 12, 2009 11:45 am, edited 1 time in total.
Your IP will normally contact you the same day. You could always leave it a bit longer, then phone and ask.
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
Well today is here. All of the experts (Melanie, David, Kallis et al) all tell me that today will be fine and the offer would be daft to be turned down. Just sat here twiddling my thumbs and waiting. Geez this is hard work. Must concentrate at work but its tough!! Really hope my supervisor comes back with a favourable answer.
Supervisor informs me that Max Recovery Ltd and Egg have accepted at the moment. I originally had 14 debtors but Max recovery took over 8 of them. Therefore together with Egg that means that debotors in charge of £65,000 of the £80000 debt have accepted. Just waiting on few thousand pounds elsewhere now but what does this all mean??
