If one creditor rejects a F&F does this mean the offer will not go through ?

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sue723
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by sue723 » Wed Apr 19, 2017 3:48 pm
I have recently made a f&f offer which took place yesterday , I emailed my supervised to ask how it went , her reply was " one of the creditors as reflected your offer and I am awaiting details " if one creditor regrets does this mean the offer will not go through
Kind regards
Sue
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Foggy
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by Foggy » Wed Apr 19, 2017 3:52 pm
Not always -- it depends on the percentage of debt that creditor holds --- of those that vote 75% by debt value must say yes for the variation to go through. Sometimes this happens and the IP will canvass those who didn't vote hoping to swing the percentages.
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kallis3
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by kallis3 » Wed Apr 19, 2017 5:06 pm
Fingers crossed that it goes your way.
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Lisa Thomas
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by Lisa Thomas » Thu Apr 20, 2017 1:35 pm
It depends on the total votes once the deadline has passed. Hopefully at least one other creditor will vote in favour and there will be enough to secure the 75% needed.
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