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john775
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by john775 » Fri Dec 29, 2017 10:15 pm
what will happen if the creditors don't expect the propsal for the iva any advice would be really helpful thank you in addvance
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kallis3
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by kallis3 » Fri Dec 29, 2017 10:20 pm
I am sure you will be fine.
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luluj
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by luluj » Sat Dec 30, 2017 5:31 am
Yoye IP will try to persuade them and it may mean a few amendments to get it passed.
If they say no then you can look to see if a DMP or other solution is available.
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Foggy
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by Foggy » Sat Dec 30, 2017 9:41 am
The creditors, these days, often propose small amendments, but these can only be introduced if they have enough voting "clout" and are often related to fees etc, which won't affect the day to day running of the IVA. They sometimes ask for allowances to be amended, but you will be asked if you agree before the IVA goes through. If there is a big disagreement the IP can adjourn the meeting for up to 2 weeks while they discuss it. If it is an absolute "no" then your IP will look at other solutions for you.
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