Apprehensive about creditors meeting

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green

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Post by green » Thu Feb 06, 2020 12:45 pm
Awaiting my IVA proposal and feeling very apprehensive. With everything depending on the 75% it could go either way. Yes I know an IP will only put forward a proposal that should pass but what if some of the bigger creditors dont vote or vote against? I have £45k total debt and 40% sits with MBNA. Another 20% is with BoS and Halifax, both connected to MBNA. This is going to be nerve racking.

kallis3

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Post by kallis3 » Thu Feb 06, 2020 1:22 pm
We've all been in that position - you need to stay positive.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Thu Feb 06, 2020 1:31 pm
The 75% is of those that actually vote -- if anyone doesn't vote they are still bound. Try not to dwell on it --- difficult I know, we have all been there ---- in the weeks before our meetings we all had gleaming cars and houses while we distracted ourselves !!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Lisa Thomas

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Post by Lisa Thomas » Thu Feb 06, 2020 2:28 pm
Frustrating to hear that your IP hasn't explained the voting to you. It should also be explained in your paperwork.

Best of luck.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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