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Nicola.sa

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Post by Nicola.sa » Fri Jul 30, 2010 11:06 pm
if less than 75% of creditors don't bother voting? I assume that the IP would try to get them to vote but what happens if they refuse? Does that mean the IVA fails? I am just really worried as MBNA is going to be roughly 24% of our debt as I calculate it, so in order to get IVA passed do ALL the other creditors have to vote?? I am just very worried as there is a lot of talk on this forum about creditors not voting and if only one of our other creditors votes no or decides not to bother voting I am assuming our IVA would fail.
 
 

Julie

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Post by Julie » Fri Jul 30, 2010 11:59 pm
Hi Nicola, most creditors will vote as its in their interest to secure a percentage of repayment.Your IP will do their best to get a vote.
 
 

MelanieGiles

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Post by MelanieGiles » Sat Jul 31, 2010 12:23 am
We very often get all of the creditors voting, and if there was a rejecting creditor sitting with 24% of the vote then your IP would do their best to get the remainder of those in, however we are not allowed to solicit for proxies.
Regards, Melanie Giles, Insolvency Practitioner
 
 

Nicola.sa

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Post by Nicola.sa » Sat Jul 31, 2010 12:41 am
Thanks Melanie. You will be hearing from me soon x
 
 

MelanieGiles

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Post by MelanieGiles » Sat Jul 31, 2010 12:43 am
I am aware of the issues which are delaying your application Nicola, and if there is anything I can do to help please give me a call.
Regards, Melanie Giles, Insolvency Practitioner
 
 

Nicola.sa

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Post by Nicola.sa » Sat Jul 31, 2010 12:48 am
Thankyou so much! xo
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