why don't they vote?

[major eyeswater]

Hi, just had my IVA approved, thanks to Melanie and team.
I'm just curious, it seems common for creditors, even those who have a large stake, not to vote at all.
Why is this? Is it that they would vote yes, but just can't be bothered?

[MelanieGiles]

A lot of the creditors take a commercial decision that if they cannot influence the vote - ie they are owed less than 25% of the aggregate, that their time is spent on other things.

But there are certaintly more creditors participating in voting these days than say two years ago.

[look_divine]

my question is what if none of your creditors vote, what happens?

[Blair Endersby]

if no one votes then your IVA is not accepted. You must have a positive response from at least 75% of creditors who vote.

[look_divine]

thanks didnt realise how it worked

[Adam Davies]

Hi
So if only one creditor votes and that is a yes then it's a 100% acceptance.
Regards

[plasticdaft]

So if only 1 creditor who is owed a very small amount of your money is the only one to vote and they say yes you get the go ahead!!! Cool!!

[MelanieGiles]

I once got and IVA accepted for £65,000 on the back of one vote - a £13 bill owed to the client's dentist!

[plasticdaft]

I once got and IVA accepted for £65,000 on the back of one vote - a £13 bill owed to the client's dentist!

Fantastic,you could write a book on stuff like that!!!!