www.iva.co.uk

Hi
Spoke to someone yesterday who had their IVA rejected by Lloyds, overall acceptance 74.3%, Lloyds held 25.7%, all creditors voted.
In the six weeks before the meeting the Lloyds share stood at 24.7% but due to added charges etc of nearly 1k in the weeks leading upto the meeting their share increased to 25.7% and hence they voted down the IVA.
Just bad luck for the debtor or an orchestrated move by Lloyds to secure the casting vote ??
Regards

Hate to say this Andy but I feel it was deliberate for at the Samaritan Branch where I do volunteer work I have heard some shocking stories about the antics of Lloyds particularly with the very vulnerable - even telling one client that they will not get legal aid to fight us so accept what we say!

I doubt it was a deliberate orchestrated move. Have you put them on a DMP Andy?

Regards.

Hi
Yes, also looking to claim unfair bank charges that will hopefully reduce the debt slightly.
Regards

Size5 why are Lloyds so agressive and downright nasty so that some of their customers end up in turning to the Samaritans?

The honest answer is that I don't know if they are, but the perception that they are is certainly one that exists.

A clue may come in the fact that a couple of years ago, at a different organisation, I was talking to the chairman of the company and he said that out of all the many hundreds, if not thousands, of creditors and agencies out there, 20% of the payments coming in were then going straight out to Lloyds TSB, which is a staggering amount. It indicates an aggressive approach to lending, and one can only assume that the same aggression may apply when it comes to collecting. We can only hope that such aggression in lending is a thing of the past, and that hopefully the same will eventually apply to collections.

I hope Andy's client will be in a position to repropose later on to get a better result.

Regards.

I doubt if Lloyds would have done their sums and pushed the debt over the 25% as normally they instruct their accountants to do the voting for them.

It sounds like it was just unfortunate but even so there is normally a reason given for rejection. Did they say why the IVA was rejected?

Thanks Size5 that puts it into perspective.

God I am worried now! I have my creditors meeting in a few weeks time and Lloyds are one of my main creditors! I have a Credit Card and a loan with them (blackhorse).

we owed lloyds a substantial amount and they accepted ...( maybe cos i worked for them many years ago !!!!) to be too worried cantwait for this to be over .

My experience with Lloyds is that they could organise the p...arty in the brewery so I would put this down to bad luck.

I don't think any of the creditors know what they are doing from one meeting to another. The criteria changes all the time.

I agree, IVA's seem at times to be the biggest lottery I have ever been involved in

Lloyds voted yes for me and I had 3 debts with them.

Andy, completely irresponsible but...

...If only they could borrow a further amount from the other creditors to bring Lloyds share!

Don't suppose the other creditors have any extra charges to add...? [:)]