www.iva.co.uk

Posted: **Mon Aug 06, 2007 6:06 am**

what happens if none of my 7 creditors vote, is it then rejected or accepted?

thanks
crg

Posted: **Mon Aug 06, 2007 8:35 am**

If nobody vote then your IP will probably adjourn to try to get more votes. Fingers crossed at least one says yes and it will be accepted.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

Posted: **Mon Aug 06, 2007 9:31 am**

Hi crg

If no votes are received the meeting is inquorate and aguise is right, your IP will adjourn the meeting to chase creditors to submit votes. The IP can adjourn the meeting for up to 14 days in order to allow time to receive votes.

Who are your creditors? Some are easier to obtain votes from than others!

Hope this helps

Jane Finch
Licensed Insolvency Practitioner

AccumaGroup - A large insolvency practitioner service based in Manchester.
www.accumagroup.com

Posted: **Mon Aug 06, 2007 9:41 am**

Hi crg,

Can you tell us who ur creditors are? So we can tell you which ones are more likely to vote.

Regards,
Michelle P.

Posted: **Mon Aug 06, 2007 9:45 am**

Unfortunately the ultimate outcome if none of your creditors vote is that your IVA will not be accepted as you have failed to achieve a yes from 75% of your creditors who vote on the proposal (pro rata to debt owed).

As the others have said non voting is usually dealt with by an IP adjourning and then using their contacts within the creditors to secure a vote.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Posted: **Mon Aug 06, 2007 11:45 am**

Hi
Wouldn,t life be easier for all if a non vote was counted as a yes vote.As long as creditors had enough notice of the meeting I can,t see the problem.It would take away the uncertainty and give a difinitive answer on the day.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Posted: **Mon Aug 06, 2007 6:07 pm**

Hi all

my creditors are lloyds tsb loan & overdraft, welcome finance x 2 loans, morgan stanley, capital one and citi financial.

thanks guys
crg

Posted: **Mon Aug 06, 2007 6:11 pm**

I am sure that Lloyds TSB will vote - they usually do!

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

Posted: **Mon Aug 06, 2007 9:18 pm**

is that a good or bad sign in your experience? how do the other creditors fair

thanks
crg

Posted: **Mon Aug 06, 2007 9:20 pm**

They are all pretty commercial to be honest, and if you are putting your best foot foreward via an IVA you ought to have nothing to worry about.

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

Posted: **Mon Aug 06, 2007 9:21 pm**

thanks Melanie

Posted: **Mon Aug 06, 2007 9:26 pm**

the only thing putting me down is that my overdraft is also in my ex-wife`s name, which i`m currently trying to get her name taken off, if i send my letter of authority to them surley they wont taken her name off the account?

Posted: **Mon Aug 06, 2007 9:29 pm**

If they are aware of a potential IVA I would have thought it unlikely that they would remove your ex-wife as she will be jointly liable for the debt and they will persue her.

Posted: **Mon Aug 06, 2007 9:35 pm**

thanks storm, thats why i`ve not sent the letter of authority to the bank yet, it`s been two weeks and they`ve asked me to fill out a budget planner which i`ve said no, so them chasing my ex-wife is worrying me

Posted: **Mon Aug 06, 2007 9:44 pm**

I take it she doesn't know the extent of the potential liability ??

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