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Posted: Tue Jan 05, 2016 8:21 am
by Rob.58
I pay £200 a month & have 2years 6 months to pay I did a full & final of £6400 .today was the meeting they rejected it ip has emailed the one that said no to say it's more but I don't understand . it's more than I would pay over the 2years 6 months any ideas anyone?? Thanks
Posted: Tue Jan 05, 2016 8:57 am
by kallis3
Hi and welcome,
Sorry to hear of the rejection but hopefully the IP can talk the creditor round.
Do you know which creditor it is?
Posted: Tue Jan 05, 2016 9:17 am
by Michael Peoples
If you equity in your property then there is a likelihood the IVA would have been extended by a year if the equity could not be raised. This would increase your overall payments by £2,000 so perhaps this is where the creditor is coming from.
Is there equity in your property?
Posted: Tue Jan 05, 2016 9:45 am
by annearchie
what was the original dividend and the offered dividend?
Posted: Tue Jan 05, 2016 1:41 pm
by Lisa Thomas
Hi Rob - your IP should be able to tell you. It seems odd if there was no extension as you were offering more than would have been payable. Could your IP adjourn the hearing to chase up votes from other creditors and sway the majority vote?
Posted: Tue Jan 05, 2016 6:36 pm
by SUC
Do you need all the creditors to agree or only 75%
Posted: Tue Jan 05, 2016 6:43 pm
by kallis3
It's 75% by value of the creditors who vote on the day.
Posted: Tue Jan 05, 2016 7:30 pm
by luluj
You certainly need a full explanation... it might be to do with equity release etc but you need to ensure a reason is given. Hopefully your IP can go back to the one creditor who said no to persuade otherwise.