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what exactly happens in creditors meeting???do they ask you questions??

Hi and welcome.

The creditors meeting is mostly a paper exercise. They usually vote by phone or fax, and some of the votes may already have sent their votes in. The only questions likely to be asked will be to do with any modifications.

You don't need to be there, just available on the end of a phone.

Not all creditors will vote.

From an IP's perspective, the creditors meeting is the last formality in the IVA proposal procedure - and as Kallis states is usually a paper exercise, although creditors do occasionally attend the meetings - more likely with self-employed traders where there may be local creditors.

Creditors often ask questions about the proposal, or the events which have led to your financial difficulties, and we generally deal with the majority of these but you may also be asked to produce additional information.

Sorry Melanie, didn't realise that, I suppose because we weren't asked any.

The majority of the information about how we got into the situation is usually provided when we initially sort the proposal out isn't it?
I seem to remember having to put all that down.

Yes - a detailed background statement is generally provided to creditors, but some of them do often ask for additional information.