will IVA be accepted

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zeitgeist

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Post by zeitgeist » Fri Jul 06, 2007 11:32 pm
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i have 6 creditors and the total outstanding debts are 20k pounds. out of which i owe 2 creditors 10k & 5k respectively. if these two creditors accept the proposal for iva and the remaining 4 dont, then will IVA be accepted.
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JoeB

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Post by JoeB » Fri Jul 06, 2007 11:37 pm
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Hi Depends on the value of their debt - you must hit 75% from those who actually vote
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MelanieGiles

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Post by MelanieGiles » Fri Jul 06, 2007 11:39 pm
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Hi zeitgeist and welcome to the forum

Based on your figures of £20k and £15k this does meet the 75% requirement for acceptance.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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iva_squirrel

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Post by iva_squirrel » Sat Jul 07, 2007 8:19 am
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Hello zeitgeist,


Welcome to the forum.

If those 2 creditors voted yes, your IVA would be accepted.

Good luck.

Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

Visit my website:
http://www.supersonicsquirrel.net

Credit Today Awards 2007 http://www.credittoday.co.uk/awards/winners.htm
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