www.iva.co.uk

Can anybody tell me how these companies may vote on an IVA,
Lloyds TSb £9800 (loan) - mine
Dorothy perkins, GE Money £300 - mine
New Look , GE Money £65 - mine
Argos card £1200 - mine
Lloyds TSB £600 overdraft - mine
Beneficial finance £14000 (loan( - husbands
Argos card £600 - husband
homebase card £600 husband
burtins card , GE Money £200 - husband
Capital One £180 - husband
HSBC £4000- joint

Total of around £32000
Clearstart are proposing £280 month over 5 years. Am beginning to get twitchy as am having real problems paying creditors and store cards have already fallen into arrears.

I have nine debtors only two voted
MBNA and Morgan Stanley although my biggest debtor was Northern Rock. Also Eversheds have bought some of the debts and it was them who insisted on minor change to the original proposal - they bought MBNA and Northern Rock amongst others.

A. G. Gould

So if only two voted was your IVA accepted?
Also, did you keep paying your creditors whilst your IVA was being set up?

They are all relatively supportive, so long as you are putting your best proposals forward.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi martha7

My IVA was accepted, Eversheds (Northern Rock) and Mint (Royal Bank of Scotland) both voted yes thus giving a 100% vote in favour of the IVA. If creditors do not vote they have to abide by the decision of those that do. I think I am right, if not, I am sure Melanie or Andy will advise us accordingly. Incidently since the IVA started Eversheds have bought several of the debts And I do not know if this is good, bad or does not matter. Perhaps someone has a view on this.

A.G.Gould

A. G. Gould

Apologies, originally I stated Morgan Stanley I meant Mint. Also, Eversheds bought my debt from MBNA but only voted on the debt they bought from Northern Rock. I hope that is not too confusing.



A. G. Gould