Result!

[soreloser]

Hi gord,

Its 75% of the value of those voting I think you'll find.

Therefore if you only have 70% of value in your favour and a few haven't voted then your IP will probably try and persuade those remaining creditors (presumably who have a track record of persuadability in the right direction)to give a thumbs up - to achieve the 75%.

[gord]

ah I see - so it has to be 75% of the value and not the numbers -

althiugh that doessnt seem to be the case with Stirling - with the example he gave over 53 000 of creditors didnt vote -

sorry if I confusing things here !!!

[soreloser]

75% of the value WHO VOTE is the key I think...

[size5]

Correct. £32,850 in total voted, of which £2,800 voted against, or 8.5% approx. Those that didn't vote are now bound by the result.

Regards.

[stirling]

Thanx Size5. I think that clears it up for me and a lot of others as to understanding the voting system.

[gord]

OK got you now - It is all about those who vote . So if you get a few big creditors to vote yes it will counter a few smaller ones who might say no . Not voting doesnt mean no !!

It makes you wonder - creditors hassle you every day whilst you are going through the process - and then comes the daay when you are actually putting your proposal to them and they dont even get involved ! - something wrong somewhere there

Thanks everyone

[size5]

See http://iva.co.uk/forum/topic.asp?whichp ... _ID=182117 for another example, only 1 vote which in this case equals 100% acceptance.

Regards.

[ivas4us]

Just spotted somebody mentioned about a pension. I am currently payimg into a works pension does this need to be mentioned somewhere?

[ivas4us]

sorry forgot to mention Cleardebt are just setting up a proposed IVA

[kallis3]

You do need to let Cleardebt know about the pension.

Is it deducted from source or do you pay into it via a direct debit or similar?

Mine is deducted at source and I have kept it.

Just give them a ring and let them know.

[ivas4us]

it is deducted at source and is shown on my payslips that I have forwrded to them. So much paperwork to do I just hope I have done it all correct I would hate to start an IVA and then find out something was missed out later.

[kallis3]

It should be ok then.

[ivas4us]

Thank you Jan, I have emailed David just to be on safe side

[stirling]

Mine showed up on my payslips as a 1.5% WPS(widows pension scheme).I just had to provide evidence that it was not an additional voluntary contribution since it amounted to about £30 a month. I was able to show that it was compulsory or leave the pension scheme.

[David Mond]

All documents received ivas4us - don't worry.
[:D]