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Posted: Thu Dec 13, 2007 8:27 pm
by kieranandmegansmum
DOES THE 75% HAVE TO BE IN VALUE OF THE DEBT OR IN NUMBER OF CREDITORS
S WARD
Posted: Thu Dec 13, 2007 8:38 pm
by Martin2011
Pretty certain it's the value of the debt, but I'm sure someone will be along shortly if I'm wrong...
Martin
Posted: Thu Dec 13, 2007 8:46 pm
by aguise
It is the percentage of debt. So if the debt is £100,000 and you owe them 25,000 then they hold 25% of the debt.
Ang
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Posted: Thu Dec 13, 2007 9:18 pm
by Adam Davies
And it's worth remembering that it is 75% of debt owed to creditors that vote on the day that you need the yes from.Not all creditors will vote.
Regards
Andy Davie
IVA.co.uk Spokesperson and Website Manager
About me:
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IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp