Hi all does anyone know how Max recovery, amd Direct legal and general vote in full & final meetings as alot off our debts have been sold on to these companys, our meeting is on the 11th April and just starting to worry if these two dont vote in favour it will fail thanks housewife12
Hi Housewife12, its not easy to predict how creditors will vote however your IP would not have spent time and energy in putting forward your best offer unless they were confident it would succeed, after all the alternative would result in your creditors getting nothing. Keep faith in your IP and all will be well xx
I think Max Recovery are ok but no idea on the other one.
I'm sure you will be fine.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi thanks for your replys I was just starting to worry as our meeting is getting close Max recovery now have eight out of twenty four and the original debt was around £9,500 and dlc have four there original debt is around 17,000 our total debt was £58,600 am I right in thinking its the amount that matters in a vote and not how many they have thanks houswife
I am presuming that it is the same as the original creditor meeting and that it is 75% by value of the creditors that vote on the day that have to agree.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Yes like Jan says its the value of the debt thats needed %75.Max recovery were good for me they voted yes.Good luck you should be fine if your IP has put forward the offer.
These creditors buy the debts quite cheaply and are pleased to accept full and finals.This usually means a profit to them but also means the IVA will not fail and they lose the lt.
