Creditor meeting arranged - Is 65p to the £ enough?

Get expert opinion. This is the place for new questions to be posted.
31 posts Page 2 of 3
Amos0616
Posts: 10
Joined: Sun Jul 30, 2017 1:33 pm
by Amos0616 » Wed Aug 02, 2017 4:22 pm
Hi All,

Quick question. I have spoke to my IP and he has advised that 2 of my creditors (Low value payday loans) haven't responded with a vote but have put a claim in.

Does this mean they are accepting the proposal?
Thanks

Amy
User avatar
Foggy
Forum Expert
Posts: 23158
Joined: Fri Dec 17, 2010 11:14 am
Contact
by Foggy » Wed Aug 02, 2017 4:28 pm
If they don't vote I would assume they are content to go with the majority and expect the IVA to be accepted. I doubt a claim could be construed as a yes vote.
User avatar
Michael Peoples
Industry Expert
Posts: 15067
Joined: Mon Nov 03, 2008 12:36 pm
Contact
by Michael Peoples » Wed Aug 02, 2017 4:32 pm
Small creditors often just submit a claim without voting. Given the size of their debt they cannot influence the outcome so just go with whatever the bigger creditors decide.
Amos0616
Posts: 10
Joined: Sun Jul 30, 2017 1:33 pm
by Amos0616 » Wed Aug 02, 2017 4:43 pm
Thanks for the replies. I guess I should be thankful that they haven't rejected it :D
User avatar
Lisa Thomas
Industry Expert
Posts: 5828
Joined: Wed Dec 03, 2014 10:26 am
Contact
by Lisa Thomas » Thu Aug 03, 2017 10:21 am
its 75% in value of creditors who VOTE that have to vote in favour to get the IVA though.

Even if certain creditors don't vote (or vote against), if your IVA is approved all creditors are then bound by it.
Amos0616
Posts: 10
Joined: Sun Jul 30, 2017 1:33 pm
by Amos0616 » Thu Aug 03, 2017 4:40 pm
A week today!! Getting very nervous for the meeting!
User avatar
kallis3
Forum Expert
Posts: 71603
Joined: Mon Mar 17, 2008 4:02 pm
Contact
by kallis3 » Sat Aug 05, 2017 4:54 pm
I am sure you will be ok!
Amos0616
Posts: 10
Joined: Sun Jul 30, 2017 1:33 pm
by Amos0616 » Wed Aug 09, 2017 4:26 pm
Finally the wait is over, D day tomorrow!! Don't think I will sleep tonight at all.
User avatar
kallis3
Forum Expert
Posts: 71603
Joined: Mon Mar 17, 2008 4:02 pm
Contact
by kallis3 » Wed Aug 09, 2017 4:43 pm
You'll be fine!!
Amos0616
Posts: 10
Joined: Sun Jul 30, 2017 1:33 pm
by Amos0616 » Fri Aug 11, 2017 4:44 pm
Hi All,

Just thought I would update you. IVA was accepted yesterday with no modifications that affect me!! Can't not tell you how relieved I am.

This forum has been great through the whole process.

Thanks
Amy
User avatar
Foggy
Forum Expert
Posts: 23158
Joined: Fri Dec 17, 2010 11:14 am
Contact
by Foggy » Fri Aug 11, 2017 4:52 pm
Great news, Amy -- well done :-)
User avatar
kallis3
Forum Expert
Posts: 71603
Joined: Mon Mar 17, 2008 4:02 pm
Contact
by kallis3 » Fri Aug 11, 2017 5:17 pm
Fantastic news!!
User avatar
Waitingforship
Posts: 55
Joined: Wed Feb 13, 2013 5:02 pm
by Waitingforship » Fri Aug 11, 2017 9:29 pm
Congratulations Amy.
User avatar
Lisa Thomas
Industry Expert
Posts: 5828
Joined: Wed Dec 03, 2014 10:26 am
Contact
by Lisa Thomas » Mon Aug 14, 2017 8:05 am
Well done and best of luck with it.
User avatar
Michael Peoples
Industry Expert
Posts: 15067
Joined: Mon Nov 03, 2008 12:36 pm
Contact
by Michael Peoples » Mon Aug 14, 2017 8:45 am
Congratulations me from me too.
31 posts Page 2 of 3
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 16 guests