www.iva.co.uk

Drowning, best of luck for tomorrow.

Hope all goes well for you, let us know how you get on!

[:)][:)]

Yes good luck drowning!! If you're like me you'll have not nails left either. Just found out our creditors meeting is set for midday on Weds 25th Feb.....aaggghhhhh - now it really is real!!!

Anyway fingers crossed you'll be celebrating tomorrow night - am sure you will be!! [;)]

Thinking of you....Fi x

Best of luck from me as well drowning.

Fifi - at last you have a date! That'll soon come round!

thanks guys, but it is not looking good I am afraid..!!!

I have 74.5% and need a yes vote from any 1 of 2 creditors who have not yet voted. I dont know how long they have to vote, but if they do not my proposal has failed, or if they vote no I am sunk anyway.

Feeling gutted, but thats the way it goes.

I dont want to mention who voted yes or no at this stage until the final results are in.

any body know how long you can wait for a creditor voting past the meeting start time?

If those creditors don't vote, surely they are deemed to have voted yes at the meeting?

I've just checked on my report, and only three of my creditors voted yes, which worked out at about 50% of the outstanding debt, one voted no, which only equated to 5%, and the others didn't bother, they were deemed to have accepted.

My IVA went through no problem at all.

there has not been any contact from them. The voting is done by fax, letter or email and they have not been in touch...Gutted

What has your IP said to you?

i am awaiting further communications, but as far as i was aware, if you dont get 75% in value accepting you have failed.

as far as i am concerned if they dont vote it not classed as a yes or a no!!!

If they don't vote, then it is counted as a 'yes' vote.

Hi Drowning

I have spoken to my IP this morning and she said if on the day only one creditor votes yes and none of the other say 10, vote at all, then all creditors are bound by the decision.

I think the problem starts when 25% of the value say NO, then you cannot get 75% even if all other creditors vote YES.

Sounds like you will be OK.

Best of luck. Keep us posted.

I hope you are both correct guys. I have had 23% as a no so if that were the case and neither voted it would be ok, but I am clutching at straws here and need to find out the official verdict.

Thanks very much for all your support though

That's right.

There was a thread on here recently, and a couple of the IP's have had approvals where the only creditors who voted had extremely small sums (I believe one was about £40?) and because non of the others voted, the IVA went through.

When does the voting end then? Is there a strict time period from when the meeting started please?

I believe that once the meeting is over, that is it.

The votes have to be in either prior to, or at the time of the creditors meeting.

Once the meeting is finished, if they haven't voted, they are deemed to have voted yes.