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i.v.a's on theday of meeting what happens

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zzxxee | 14:39 Wed 24th Mar 2010 | Personal Finance
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if one or more of the creditors rejects the i.v.a ??? whats the next step
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As long as the debt owed to those creditors who agree to the application is equal to, or exceeds, 75% of the total debt, the proposal will be binding upon all creditors (including those who've voted against it). i.e. the IVA will still be approved.

If the creditors who vote against the proposal hold more than 25% of the debt, the proposal will fall (i.e. you'll be refused the IVA).

Chris
22:50 Wed 24th Mar 2010
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thankyou chris
08:28 Thu 25th Mar 2010

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