Zopa and IVA's

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kevin323

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Post 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

Foggy

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Post 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.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/

kallis3

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Post 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.
http://kallis3.blogs.iva.co.uk/
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.

kevin323

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Post 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 .

kallis3

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Post by kallis3 » Thu Dec 13, 2018 12:23 pm
Fingers crossed!!
http://kallis3.blogs.iva.co.uk/
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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