www.iva.co.uk

Email just received from Credit union telling me they will be voting no for my IVA, meeting is not until 4th June. I feel so sad tonight

Do they hold more than 25% of your debt ?

Have they explained why?

How much % of total debt do they have?

What does your Nominee say about it - can they convince them to change their minds?

Fingers crossed everyone else votes yes.

That's a bit harsh! I never had anyone of my creditors tell me their voting preference.

It is very unusual - normally creditors will liaise direct withe the Nominee.

Foggy wrote:

Do they hold more than 25% of your debt ?

No I think its 24% so very close.

kallis3 wrote:

Fingers crossed everyone else votes yes.

Thank you

MerlinL14 wrote:

That's a bit harsh! I never had anyone of my creditors tell me their voting preference.

Thats exactly what I was thinking telling me I had let the credit union down etc, I had fully explained to them that we serious personal events leading up to no being be able to pay and why we were seeking help with our debt.

Lisa Thomas wrote:

Have they explained why?

How much % of total debt do they have?

What does your Nominee say about it - can they convince them to change their minds?

I sent them the email and they told me not to worry and hopefully everyone else votes yes.

Lisa Thomas wrote:

It is very unusual - normally creditors will liaise direct withe the Nominee.

thats exactly what I was thinking I feel depressed enough without them emailing me and saying no and I had let them down.

You may need ALL other creditors to vote, and vote in favour, in order to get the IVA through as you will need 75% in value voting to approve.