What do banks do once they get an iva request

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kallis3

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Post by kallis3 » Wed Jul 08, 2020 1:07 pm
You will have to wait and see - you always have the option of a Dept Management Plan if the worst comes to the worst.
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.
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Lahoretiger

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Post by Lahoretiger » Wed Jul 08, 2020 1:14 pm
Is the 75 percent amount of total debt

kallis3

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Post by kallis3 » Wed Jul 08, 2020 1:29 pm
It is 75% of the total debt by value. Depends on the votes on the day. Please try not to overthink this. There is nothing you can do at the moment.
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

Lahoretiger

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Post by Lahoretiger » Wed Jul 08, 2020 1:32 pm
So 40k

Foggy

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Post by Foggy » Wed Jul 08, 2020 1:32 pm
It will depend on if they vote at all and who else votes.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Wed Jul 08, 2020 1:34 pm
You cannot decide who is going to vote and whether it is yes or no. Sit back and try to relax (not easy) but you can do nothing.
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

Lahoretiger

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Post by Lahoretiger » Thu Jul 09, 2020 10:50 am
One of creditors is a credit union i now they will say no i owe 2k to them

Foggy

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Post by Foggy » Thu Jul 09, 2020 10:53 am
They might not even vote.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Lahoretiger

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Post by Lahoretiger » Thu Jul 09, 2020 10:59 am
They voted no ive confirmed lets see what bearing that has so if debt is 42k so 32k have to say yes

Foggy

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Post by Foggy » Thu Jul 09, 2020 12:24 pm
Thu Jul 09, 2020 10:59 amLahoretiger wrote:
They voted no ive confirmed lets see what bearing that has so if debt is 42k so 32k have to say yes
The amount needed to vote yes is 75% of those that vote, so if only, say, £10,000 worth votes at all then you only need £7,500 worth to say yes.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Lahoretiger

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Post by Lahoretiger » Thu Jul 09, 2020 12:29 pm
That wont be easy to reach when u ve got 42k debt thats like 32k have to say yes

kallis3

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Post by kallis3 » Thu Jul 09, 2020 12:34 pm
Who has told you they have voted no? They have until the meeting to make a final decision and you have to wait until the day to find out what is going to happen.
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

Lahoretiger

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Post by Lahoretiger » Thu Jul 09, 2020 12:35 pm
Credit union.tolld me

kallis3

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Post by kallis3 » Thu Jul 09, 2020 12:38 pm
It depends on who you spoke to there. Please be patient and wait until your meeting.
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

Lahoretiger

Posts: 176
Joined: Tue Jun 16, 2020 11:08 am

Post by Lahoretiger » Thu Jul 09, 2020 1:08 pm
Credit union most often vote no
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