voting in variation

[indebtforever]

hi is this similar to the creditors meeting were the one with the most debt gets deciding say??

[MelanieGiles]

Voting at a variation meeting tends to be dictated by either the specific wording in the proposal or the terms and conditions appended to the proposal. It is usual for the voting rules to mirror those at original creditors meetings - ie 75% majority in value of debt of those creditors claiming.

[indebtforever]

hi thx melanie so at my creditors meeting at the beginning i had 12 creditors only 3 voted the value was £2,624 of debt yet the debt was 70k and it passed so as for the 75% ????

[MelanieGiles]

If the creditors who voted totalled £2,624 and they all accepted the IVA then you had 100% acceptance.

[indebtforever]

cheers melanie for all your help i think its time you made some time for yourself you help so many in here it must be work -forum -then bed go put your feet up and have a tipple[:)]

[MelanieGiles]

Time for a tipple at the Frugal Friends get together on Saturday!

[indebtforever]

yes i think its a great thing you are doing meeting up just a tad far for me i would like to put faces to the nicks and a good old chat maybe another time[:)]

[MelanieGiles]

What part of the country are you in?

[indebtforever]

west cumbria, whitehaven

[MelanieGiles]

We'll make you promise to come to the next Manchester meeting then!

[indebtforever]

yes that would be great if i save up i can go and see the best team in the land play first utd[:D] and then call in