I have instructed an IP to set up an IVA for me but for various reasons they won't be able to start putting it together until December.
I wondered if anyone could tell me if when a proposal is distributed to the creditors do they get to see a full list of who the other creditors are and how much? Or do they just see their own figures and the % this makes up.
I just wondered if there is a chance that they could collaborate on their response?
Yes the proposal does have a full list of all the creditors and the debts owed, and is distributed to all the creditors.
I wouldnt worry about them collaberating. They will make a decision on their own criteria not what others want.
All the very best and ask away anything that you want.
wait for other answers though as I am not a technical expert.
There is an element of collaboration, as most of the main lenders have appointed representatives to handle their voting - and they do follow certain known criteria. I would not worry about this however, as if you are putting forward the very best proposal, there should be no reason why it should not be accepted.
Thanks. It was more a case of being embarrassed about my business banking manager (Lloyds TSB) with whom I have a pleasant rapport with seeing the details and being surprised about it. But maybe he wouldn't get to see the proposal personally anyway.
At present we are up to date with everything, no DCA's or debts passed on involved.
