www.iva.co.uk

Got my creditors meeting on Thursday, fingers crossed, anyway have today found out N.Rock have voted yes to 15 pence in the pound with only a couple of mods. Value of N.Rock debt is £24k out of £102k so still a long way from acceptance but should i be feeling optimistic? Also does the vote have to be 75% of total value of debt or 75% of creditors voting?

Good luck on Thursday. It's a good result that NR have accepted 15p/£, from what has been previously posted it seems as if they can sometimes be unhelpful when it comes to IVA's and for them to accept a low return may be a good sign.
xx

That's great news - and to answer your question the votes are counted on those that actually vote not those that were listed on your statement of affairs but who do not vote.

HI HAMMY
GOOD LUCK FOR THURSDAY! A GOOD RESULT THAT NR HAVE VOTED IN FAVOUR!

WILL KEEP EVERYTHING CROSSED FOR A POSITIVE OUTCOME FOR YOU

LOVE BARB X

Positive so far hammy[:)]

Best of luck for Thursday x

Thank you all.

Maybe i never worded my question very well... What i wanted to know was how the 75% voting worked. If N.Rock own 24% of my debt and they vote Yes, is that 24% towards the 75% or does it go on amount of creditors voting rather than value of debt? i.e if for instance 10 creditors voted of which N.Rock was one does that make N.Rocks vote worth 10% toward the 75%?

it goes on percentage of debt. X

Thank you. So i am almost a third of the way towards the 75%, fingers crossed. Will let you know how i get on tomorrow.

The voting at creditors meeting is worked out on the actual levels of debt, but is calculated on the proof of debts submitted for the meeting and not the overall debts - as some creditors may not vote and therefore their values will not count.

Sorry Hammy, I kind of gave you duff info there. Good luck for your meeting today, let us know how it goes, Viki X

good luck.. hammy