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Posted: Mon Nov 10, 2008 8:03 pm
by Casper
...when you have a proposal or whatever where the creditors need to vote to accept (or not) what happens with non voting creditors. Are non votes classed as accepting, rejecting or not counted where you need 75% to say yes?
Just wondering as i've had a read through my paperwork and only one person voted on the original IVA application out of five.[:0]
Posted: Mon Nov 10, 2008 8:06 pm
by Viki.W
Hey casper, if only one person voted and that I presume was a yes vote, then you had 100% acceptance. All the other creditors that didn't vote are then bound by the IVA.
Posted: Mon Nov 10, 2008 8:16 pm
by Casper
Hi,
Yeah only the one vote and it was a yes.
I have a F&F offer on the table now and was just wondering if this one and only creditor does vote and says no, is that it rejected or are non votes classed as accepting the offer or not included either way?
Can previously non voters now vote or not?
Posted: Mon Nov 10, 2008 8:17 pm
by creditcrunched
yes they can all vote for the f+f
Posted: Mon Nov 10, 2008 8:19 pm
by Casper
creditcrunched wrote:
yes they can all vote for the f+f
Umm, if they couldn't be arsed to vote on the original proposal what's the chances of them bothering now.
Posted: Mon Nov 10, 2008 8:23 pm
by creditcrunched
yes i hope you are correct just that one vote of yes would tie them all to the f+f.
i would think most of your debt will have been sold on but??
Posted: Mon Nov 10, 2008 9:04 pm
by Viki.W
Casper. you do need one yes vote, if none of your creditors vote them it's a no, but I really can't see this happening. If one votes yes and the rest don't vote then it's a yes.
Posted: Mon Nov 10, 2008 9:22 pm
by MelanieGiles
Your IP will ensure that all creditors are chased to submit a vote if no-one votes on the day of the meeting. Votes are calculated on the basis of those voting and not the overall creditor claims, so as others have said one yes vote means 100% acceptance.
Posted: Tue Dec 09, 2008 6:40 pm
by Casper
Well, today was the day and....
My offer of my PP Insurace refund as a Full and Final was accepted. [:D]
Thanks to everyone on here who helped with my questions and thanks to DFD and my IP for putting the offer forward instead of taking the PPI money as a windfall.
Things are looking up. [8D]
Posted: Tue Dec 09, 2008 6:46 pm
by Lisa2009
Brilliant news well done xxxx
Posted: Tue Dec 09, 2008 6:53 pm
by kallis3
Congratulations Casper.
Good luck for the future.
Posted: Tue Dec 09, 2008 6:56 pm
by Casper
Thanks,
I've now changed the words under my Icon to "IVA Completed". That looks and sounds soooooooooooooooooooooo good. [8D]
Posted: Tue Dec 09, 2008 7:01 pm
by kallis3
It does look good - I shall be glad when I can do that with mine!
Posted: Tue Dec 09, 2008 7:05 pm
by Adam Davies
Hi
Well done Casper.......a great result
Posted: Tue Dec 09, 2008 7:09 pm
by Viki.W
Ah congratulations Casper, that's fantastic news. Good luck for your debt free future. X