www.iva.co.uk

Hi,
On what basis can creditors refuse to vote? And who are more likely to say no?

Thanks

Hi there

As I am lead to believe, the creditors don't seem to be bothered to vote when they don't, otherwise it would be a simple yes or no.

As for who votes what, it would depend on the individuals case as they are all different. Have a look through the postings and it should give you ideas on different creditors views on IVAs

Hi,
I'll have a search, thanks.

Hi Ruby,

All i can say is that there seems to be no consistency regarding creditor voting, creditors hassling you and IPs.

I was worried about Lloyds Tsb (owe £29K) who were my biggest creditor (approx 45%) so i did need their yes vote. I had seen conflicting stories on here about them which made me a bit worried on whether they would or wouldn't agreed. They voted yes along with, Goldfish, Mint, Monument, Capital One, and Morgan Stanley.

Interesting as well I never got one single phone call from Lloyds during the whole process....with credit card and loans...at one point i was in a total arears of £1000. Someone else who posts on this forum owed Lloyds less than half of what i did and they were hounded morning noon and night by them!!!!!

All i can say really is whatever you read don't dwell on it too much...you never know what will happen regarding you as an individual..that said IPs must be fairly confident in getting your IVA processed else they wouldn't spend the time,effort and resources putting your case forward.

Regards

Bluebelle is correct about consistency but remember this is about you and your IVA. If lenders do vote (many don't bother) then they will have considered your circumstances & proposal including your assets and your potential to see the IVA through.

Lenders do not process IVA's themselves they use accountancy / law firms and quite often multiple firms (mainly due to volume of proposals being recieved) and what looks good to one firm, doesn't look good to others.

thanks people, i understand what your saying we really need to sit down with an IP and discuss our case and see what they say.
Just a small matter of deciding which one to speak with?
Thanks
Ruby

Hi

Lloyds are one of my creditors and they did not vote at my meeting only one did and that was enough.

When you are getting your iVA proposal together be absoulutley honest about who you owe to, what you can realsitically live on if you do not it will run the risk of being rejected. Stop all payments to all creditors and treat them equally otherwise there could be a problem.

thanks dominic.