dividends to HSBC

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shazzles

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Post by shazzles » Tue Feb 19, 2008 3:35 pm
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want your opionions on this desparately as my iva decision is resting on it and im wondering if hsbc will accept 32p in the £
8 down 65 to go!
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iva experts

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Post by iva experts » Tue Feb 19, 2008 5:16 pm
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Hi Shazzles,

What percentage of your debt does HSBC hold? I believe if they hold over 25% they then require a 40p/£ dividend. If the 40p/£ dividend is not reached i believe they will then vote No.
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
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iva.com

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Post by iva.com » Tue Feb 19, 2008 6:24 pm
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Hi Shazzles,

As IVA Experts have mentioned, HSBC will usually reject an IVA application that offers less than 40p/£. However, each case is judged on its own merits.

Are you currently in the process of applying for an IVA or just considering your options?

Kind regards,
Terry Balfour
IVA.com
IVA.com - The IVA Comparison Site
100s of reviews, All IPs and IVA firms rated.

Use our IVA firm comparison tool to find best IVA firm for you:
http://www.iva.com/iva_comparison_1.asp
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MelanieGiles

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Post by MelanieGiles » Tue Feb 19, 2008 6:28 pm
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What does your IP say? They do have a 40p hurdle rate, but are open to other offers. From a previous post you made I thought you were offering 22p in the £. Was that a typo?
Regards, Melanie Giles, Insolvency Practitioner
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