Zopa and IVA's

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kevin323
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by kevin323 » Wed Dec 12, 2018 8:32 am
Hi just had my Iva proposal and the pence in the pound return is 36 . Unfortunately one of my creditors is zopa and I heard they only accept 50 p on the pound . They hold 23% of my debt . What are the chances of all the other creditors voting and what happens if it is rejected. Thanks in advance
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Foggy
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by Foggy » Wed Dec 12, 2018 9:24 am
Hopefully your IP can sway enough of your other creditors to outvote Zopa. If you are rejected you could try to propose a DMP, but it will depend on your circumstances as to what other options might be worthwhile looking at: Are you a homeowner? If so, what sort of equity is there? How much are the total debts? Do you have any assets ? What is your disposable income? .... among other things.
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kallis3
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by kallis3 » Wed Dec 12, 2018 9:31 am
Hopefully you will get enough votes to carry it through. I have no knowledge of how Zopa vote. If rejected you could revert to a DMP initially to sort something out.
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kevin323
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by kevin323 » Wed Dec 12, 2018 4:36 pm
Foggy wrote:
Hopefully your IP can sway enough of your other creditors to outvote Zopa. If you are rejected you could try to propose a DMP, but it will depend on your circumstances as to what other options might be worthwhile looking at: Are you a homeowner? If so, what sort of equity is there? How much are the total debts? Do you have any assets ? What is your disposable income? .... among other things.

Thanks so much for your advice . I spoke to my ip this morning and he was amazing. He talked me through everything and really made it clear he was totally on my side . My offer is really fair so fingers crossed .
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kallis3
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by kallis3 » Thu Dec 13, 2018 12:23 pm
Fingers crossed!!
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