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Posted: Tue Jan 13, 2009 9:23 pm
by michael1982
Hi

I am currently in an IVA and have just received my first annual statement. I was wondering if someone could clear up the breakdown of my statement.

Under the Liabilities header it reads the following.

Creditors listed as per debtors statement of affairs totaled £27,200. Creditors claims logged to date are £7,430. There are 2 creditors on the statement of affairs who have not made a formal claim. At the date of the debtors proposal these claims were estimated to be £20,300.

A few questions.

1. Is this valid? I though a certain percentage of my creditors had to accept the IVA for it to be considered.

2. A long shot i know but what are the chances of me settling the £7,430 I owe to my creditors personally and leaving the IVA?

3. What has happened to the £20,300 debt. Has this been written off?

I hope you can help

Much appreciated

Michael

Posted: Tue Jan 13, 2009 10:34 pm
by moretolife
bump this back up ...for an expert..would be interested in reply

Posted: Tue Jan 13, 2009 10:48 pm
by MelanieGiles
This does not relate to the voting percentage - it is merely a statement of your IP's progress with the agreement of creditor claims. Rest assured that the other creditors will prove their claims eventually, but your IP ought to be chasing this vigorously now so that they can pay a first dividend.

Posted: Wed Jan 14, 2009 7:48 am
by David Mond
This has been answered in another post