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Lisa2009

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Post by Lisa2009 » Thu Aug 23, 2007 2:29 pm
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With 5 creditors in total, how many would have to vote yes for a early settlement?
http://mrsskint.blogs.iva.co.uk/ 'Our Story'


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aguise

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Post by aguise » Thu Aug 23, 2007 2:36 pm
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Either those who total 75% of the debt or if no votes then just one yes vote would do it. Their vote amount is for the percentage of the debt they are owed so if just one held 75% of the debt and voted yes then it would go through.

Ang

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Please visit my blog at http://aguise.blogs.iva.co.uk/
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Lisa2009

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Post by Lisa2009 » Thu Aug 23, 2007 2:38 pm
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ok thanks for that
http://mrsskint.blogs.iva.co.uk/ 'Our Story'


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iva_squirrel

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Post by iva_squirrel » Thu Aug 23, 2007 3:12 pm
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Hi skint,

As aguise said you need 75% aproval so if one creditor represents 75% you will need one single vote.

Regards,
Michelle P.
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Adam Davies

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Post by Adam Davies » Thu Aug 23, 2007 3:55 pm
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Hi
Not all creditors will normally vote,so add up the total debt of those that do vote on the day and you will need 75% of the total debt to belong to the creditors that vote YES.
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Andy Davie
IVA.co.uk Spokesperson

About me:
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IVA Helpline: 0800 197 4838
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Andam Davies
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iva experts

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Post by iva experts » Fri Aug 24, 2007 9:55 am
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Hi Skint,

As others have mentioned you will need 75% of your creditors who vote to vote yes. Please remember that if any of your creditors do not vote then this is not counted in the tally of votes.

Best Regards. IVA Experts
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
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Oliver

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Post by Oliver » Fri Aug 24, 2007 10:40 am
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You will need to secure 75% of the creditors that vote on your proposal to say yes, the portion of the creditors vote will be pro rata to the debt owed to them.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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