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Posted: Sun Mar 31, 2013 9:54 pm
by hrb150
i understand some creditors are known to reject IVA agreements. Are Argos and Next in this category?
Posted: Sun Mar 31, 2013 9:59 pm
by Foggy
Not many reject automatically these days, the main thing being the nature of your offer -- if it gives them an acceptable return they will accept. Some can be a little more awkward that others, asking for a little more or a longer term ( notably Northern Rock). In any event, unless they hold more than 75% of the total loan value, they won't be able to fail the IVA on their own (but could, of course have a deciding vote, according to how the others vote. )
Posted: Sun Mar 31, 2013 10:14 pm
by Shining
Next voted positively for me at my meeting.
Posted: Tue Apr 02, 2013 8:26 am
by OnTheUp1976
Next didnt bother voting at my meeting my debt with them wqs around £1000
Posted: Tue Apr 02, 2013 8:45 am
by Adam Davies
Hi
There are no known creditors to my knowledge that reject outright, even if they did they would need to hold at least 25% of the overall debt to be able to stop any IVA
Regards
Posted: Tue Apr 02, 2013 9:32 am
by UpToMyNeckInIt
My IVA firm advised that HMRC can be a bit awkward. Fortunately they were not one of my creditors.
The Goverment want their tax I guess.
Posted: Tue Apr 02, 2013 9:51 am
by ClareSilver
Everyday Loans reject 99% of the time. They can be very awkward!
Posted: Tue Apr 02, 2013 10:00 am
by Cariadqueen
Next voted positively at my meeting, I also had HMRC as a creditor but they didn't vote!
xx
Posted: Tue Apr 02, 2013 10:29 am
by OnTheUp1976
HMRC didnt vote at mine either.....
Posted: Tue Apr 02, 2013 12:19 pm
by footiemad
Next and Argos both voted positively for me x
Posted: Tue Apr 02, 2013 12:33 pm
by 12 months to go
afternoon hrb150
its only natural to worry about the unknown when considering an IVA & panic yourself into thinling the worst ( i did )
Its fair to say that yes the odd creditor does vote against, but many either vote for, or dont vote at all.
if your about to commence on an IVA journey, or have taken the first step and are awaiting a creditors meeting, my advice would be not to worry , but look forward to the creditors phonecalls stopping and at last not worrying about how you are ever goimg to get rid of your debt.
Posted: Wed Apr 03, 2013 2:44 pm
by kev59
Argos both voted yes for mine/
Posted: Wed Apr 03, 2013 4:36 pm
by Drew
Next do not tend to vote and Argos are voted on by The Insolvency Exchange. The Insolvency Exchange vote in a very fair manner and as long as the proposal is fair I'm sure you will be fine. Please keep us updated
Posted: Wed Apr 03, 2013 6:55 pm
by hrb150
Thanks to you all for such informative replies.
Posted: Wed Apr 03, 2013 6:56 pm
by hrb150
What way does it count if a creditor doesn't vote?