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Hi, how is an offer of Full and Final settelment accepted , is it put to a vote or do all creditors have to agree for it to go ahead and do you have to have a reason rather than just a really generous friend wanting to help you out ?

Hi Andy and welcome to the forum

You will generally need to get creditor acceptance to an offer of early settlement - and you do not need a reason so long as the offer being made is similar to that originally offered. As with the original proposal you will need to secure a 75% voting majority on the day of the creditors meeting.

Good luck if this option is currently available to you.

Hi Melanie
Thanks for that, i know you wont be able to say for sure but on the 75% basis i will need HMRC to agree, is this likley to happen ? I have read loads on this forum, its nice to know im not alone and to get help from you.

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by andy690

Hi Melanie
Thanks for that, i know you wont be able to say for sure but on the 75% basis i will need HMRC to agree, is this likley to happen ? I have read loads on this forum, its nice to know im not alone and to get help from you.

Is the HMRC one of your creditors then mate?

My understanding is that it is 75% of those that vote on the day - not sure what HMRC's voting history is like, but i know they are being challenged to ensure they maximise the returns from people that owe them.