Credit Union voting against my IVA

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saz01
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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
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Foggy
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by Foggy » Wed May 23, 2018 6:36 am
Do they hold more than 25% of your debt ?
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Lisa Thomas
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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?
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kallis3
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by kallis3 » Wed May 23, 2018 10:47 am
Fingers crossed everyone else votes yes.
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MerlinL14
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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.
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Lisa Thomas
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by Lisa Thomas » Wed May 23, 2018 11:58 am
It is very unusual - normally creditors will liaise direct withe the Nominee.
saz01
Posts: 15
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
Posts: 15
by saz01 » Wed May 23, 2018 2:10 pm
kallis3 wrote:
Fingers crossed everyone else votes yes.

Thank you :D
saz01
Posts: 15
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
Posts: 15
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
Posts: 15
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.
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Lisa Thomas
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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.
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