IVA Creditor's Meeting

[royal1]

Hi Can anyone help on the following please :-

I would like to know what would happen if one or two of my creditors did not respond or turn up to the creditors meeting - would this be in my favour ? What would happen ?[?]

[MelanieGiles]

Hi royal1

That is impossible to answer, because until you know the decisions of those creditors who do turn up and vote, you will not know whether the lack of attendance by others is favourable or not.

As you may be aware, creditors rarely attend creditors meetings in person these days, but do all of their voting via the post and fax. The decision of the creditors who do vote, will determine whether the IVA is accepted or rejected, and the creditors who have not voted are bound by the decision of those who do.

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