iva accepted 25p in £ with hsbc main creditor

[MelanieGiles]

So far as I am aware there has been no change in the 40p hurdle rate - so either there has and they have not told me, or they felt that in your case there were exceptional circumstnaces which led them to accept the lower offer. Is it perhaps that HSBC did not have an influencing vote - ie they are owed less than 25% of your overall debt?

[KAMRAN]

They were owed 37% of my total debt



My debts were:

Halifax - Visa £6,950
Marriott - Visa £3,200
Halifax - Overdraft £100
HSBC - Loan £19,840
HSBC - Credit Card £1,100
HSBC - Overdraft £500
Marbles - Mastercard £4,300
Mint - Mastercards £6,200
RBS - Overdraft £100
Cahoot - Visa £2,600
Cahoot - Overdraft £1,000
Capital One - Visa £1,000
Littlewoods £1,000
Empire Stores £1,500
Egg - Visa £6,300
Egg - Mastercard £2,050
Citi - Bmi £1,000
Citi - Platinum £500
Amex £4,500
Virgin £3,200
Lazenza £70o

[KAMRAN]

one more point egg and amex wanted 32p in the £ and were out voted by 0.1% so it was very close

[MelanieGiles]

I think that David and his team at ClearDebt have done an excellent job for you, and I shall certainly use this information to enquire as to whether there has been a change of policy at HSBC.

[KAMRAN]

best of luck Mel!