if the debt has been passed to a debt company

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akash

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Post by akash » Wed Feb 14, 2007 10:28 am
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Can IVA's still be approved even if the debt has already been passed to a debt company???

Many thanks
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Oliver

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Post by Oliver » Wed Feb 14, 2007 10:57 am
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Yes it can. You will still need to get 75% of those who vote (pro rata to the amount of debt owed) to vote yes to the proposal for the IVA to be accepted.




Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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MelanieGiles

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Post by MelanieGiles » Wed Feb 14, 2007 11:11 am
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I find practically that when debts are assigned or sold to debt collection companies, that those companies are far easier to deal with - so maybe some advantages in there for you in the future!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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neverending

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Post by neverending » Wed Feb 14, 2007 9:19 pm
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Yes ,as Melanie states if the debt is "sold"to a debt collection company then it may well have been sold for less than 25p in the £1,making an IVA proposal very attractive for the new creditor.
Regards
Andy Davie
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