www.iva.co.uk

Do credit unions usually accept IVA’s? I have three coming out of a pay slip at work that are causing me serious money issues and so have applied for an IVA- meeting tomorrow!

Sometimes they do - we recently had a poster who had her IVA accepted.

It will depend on what percentage of your debts they hold and what other debts you have'

What time is your meeting?

It is 10am tomorrow morning, one of them has rung me themselves to say they will not be accepting. They hold £5000 of a £33000 debt. I don’t know if they are voting NO or just not voting at all, as it might not affect it if they don’t vote at all? I have not heard from the other two creditors. Freeman Jones told me to start considering other options just in case so i do not think it is looking too good really nervous

It won't affect anything if they don't vote. If your IVA goes through they are bound by it. You need 75% by value from people who vote on the day.

really hoping they do not vote. Not sure if the other two will vote yes or just not vote at all, can’t see them voting no if they haven’t contacted me. will be a sleepless night tonight but hopefully i’ll be okay!

Mine was for 18k with the credit union and voted yes - although very unhappy about it and made sure I knew by phone call and letter Hopefully they will say yes for yours let us know how you get on

i’ve not heard anything off two of them but one said they wouldn’t be voting yes (hope that means they just don’t vote) fingers crossed!! will let you know tomorrow! thank you for your reply