Credit Union voting against my IVA

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saz01

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Post by saz01 » Tue May 22, 2018 9:05 pm
Email just received from Credit union telling me they will be voting no for my IVA, meeting is not until 4th June. I feel so sad tonight

Foggy

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Post by Foggy » Wed May 23, 2018 6:36 am
Do they hold more than 25% of your debt ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Lisa Thomas

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Post by Lisa Thomas » Wed May 23, 2018 8:15 am
Have they explained why?

How much % of total debt do they have?

What does your Nominee say about it - can they convince them to change their minds?
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

kallis3

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Post by kallis3 » Wed May 23, 2018 10:47 am
Fingers crossed everyone else votes yes.
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

MerlinL14

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Post by MerlinL14 » Wed May 23, 2018 11:43 am
That's a bit harsh! I never had anyone of my creditors tell me their voting preference.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues

Lisa Thomas

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Post by Lisa Thomas » Wed May 23, 2018 11:58 am
It is very unusual - normally creditors will liaise direct withe the Nominee.
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

saz01

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Post by saz01 » Wed May 23, 2018 2:09 pm
Foggy wrote:
Do they hold more than 25% of your debt ?
No I think its 24% so very close.

saz01

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Joined: Wed May 16, 2018 4:39 pm

Post by saz01 » Wed May 23, 2018 2:10 pm
kallis3 wrote:
Fingers crossed everyone else votes yes.
Thank you :D

saz01

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Joined: Wed May 16, 2018 4:39 pm

Post by saz01 » Wed May 23, 2018 2:13 pm
MerlinL14 wrote:
That's a bit harsh! I never had anyone of my creditors tell me their voting preference.
Thats exactly what I was thinking telling me I had let the credit union down etc, I had fully explained to them that we serious personal events leading up to no being be able to pay and why we were seeking help with our debt.

saz01

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Joined: Wed May 16, 2018 4:39 pm

Post by saz01 » Wed May 23, 2018 2:15 pm
Lisa Thomas wrote:
Have they explained why?

How much % of total debt do they have?

What does your Nominee say about it - can they convince them to change their minds?
I sent them the email and they told me not to worry and hopefully everyone else votes yes.

saz01

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Joined: Wed May 16, 2018 4:39 pm

Post by saz01 » Wed May 23, 2018 2:17 pm
Lisa Thomas wrote:
It is very unusual - normally creditors will liaise direct withe the Nominee.
thats exactly what I was thinking I feel depressed enough without them emailing me and saying no and I had let them down.

Lisa Thomas

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Post by Lisa Thomas » Wed May 23, 2018 2:46 pm
You may need ALL other creditors to vote, and vote in favour, in order to get the IVA through as you will need 75% in value voting to approve.
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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