www.iva.co.uk

Hi there I was wondering what happens if one of my major creditors i.e. Barclays doesn't vote at the creditors meeting ? How does this affect the 75% majority. Thanks

Hi sahh
Depends on the other votes, if they vote yes then barclays will be counted as a yes also, if there is a majority against, then it will be counted as a no.

Ang


Please visit my blog at http://aguise.blogs.iva.co.uk/

The votes are calculated on the basis of those creditors who turn up to vote, and not the total of your debts. So if only one small creditor submit a vote, and Barclays do not, then you have achieved 100% acceptance.

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

It's all down to those creditors who do vote, so if you manage to get 75% or more of the creditors that do vote, (pro rata) then your IVA will be accepted and forced on the non-voters.

Best Regards
Oliver

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

Thanks everyone, thats put my mind at rest a bit.