www.iva.co.uk

I had my IVA approved last Friday which was good news.

When I recieved the paperwork on Saturday I noticed that two of my creditors had failed to either attend the creditors meeting or vote by proxy. One of these was Barclays Bank, with whom I had a bank account with an agreed overdraft of just over £2000, and the other was Quickquid, with whom I'd taken out a small loan of afew hundred pounds.

As I understand it from reading other posts on here neither Barclays nor Quickquid can pursue me for the amount I owe them (as long as they were formally notified of the creditors meeting etc, which the paperwork and the fact all other creditors attended/voted suggests they were) - can someone just confirm that please ?.

Is it unusual for creditors not to bother to either turn up to the meeting or vote by proxy ?. Seems strange to me, maybe not if the debt was something like £50 but for over £2000 I'd have thought a high street bank would have been eager to pursue.

I don't know if this is the right thing to do or not but I was intending to contact Barclays and Quickquid (especially as otherwise Quickquid will try to take money out my Barclays bank account in the next few days - which will fail as there is no money in it and I am up to the overdraft limit) to point out the IVA, particularly as I am bemused to find that as yet my Barclays bank account remains active. Any views ?.

Thanks for your help.

The two creditors you refer to are now bound by the terms of your IVA, and it is quite usual for not all creditors to vote, so don't worry they cannot continue to pursue you for the balances owed now outside the IVA.

I assume that you now have another bank account set up with a non-creditor bank?

Congratulations on being approved.

One of my largest creditors, which whom I had over £20000 of debt, didn't vote. One of my smallest - just over £2000 was the only one who voted no!

Thanks for your replies, yes I have switched to a new basic bank account that has no ties with any of my creditors.

I spoke to Barclays this morning who suggested that just because they neither attended the creditors meeting nor voted by proxy this did not mean that they would not be included in the IVA - they essentially said that by neither attending nor voting by proxy this meant they agreed to the IVA and would accordingly recieve a share of the monthly payment. Is that correct ? - that is why otherwise it seemed strange to me that a creditor would neither attend nor vote.

Thanks.

Creditors rarely attend and the proxy instructs the IP on how to vote as they will not be there in person. It is not uncommon for creditors not to vote at all if their vote is too small to influence the outcome of the meeting. Do not worry as all creditors are bound and will receive a dividend whether they voted or not.

Thank you all for your kind words and helpful contributions.