At my original IVA creditors meeting only one bothered to vote.....now i want to offer settlement what if these creditors dont bother again, can I offer a lower amount to the one that does bother to attend? and nothing or very little to the others or dosent it work like that?
No - all of your creditors are bound by the same terms of the arrangement. And I think you will find that there will be a little more interest in a new meeting than there might have been for the first one.
When you are in an IVA, you are not permitted to offer separate deals to separate creditors.
Presumably at your original meeting your proposal passed albeit by only one creditor voting?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
