How creditors vote

adfax

Hi - not so much a question as a discussion. When I was starting out on the IVA process one of the nagging questions I had was how would my creditors vote - were then any patterns. I trawled through various forums looking for comments but they were few and far between.

Browsing this board today I noticed on another thread that someone had posted how their creditors had voted. It struck me how different their pattern of votes was to mine.

In their case both Barclaycard and Capital One had rejected the proposal (and it was for less than I owed them), and MBNA didn't vote at all.

Whereas in my case, Barclaycard, Capital One and MBNA all voted in favour, and that was for about 22p in the £. I owed them about £5000, £5000 and £14,000 respectively.

It would be interesting to see how they voted for other proposals?

keeno1406

Hi,
In my case, MBNA accepted and Barclaycard, Capital One and Egg rejected, depsite this the IVA was approved and we are coming up to the end of our first year - can't say its been an easy ride, but we accept all responsibility and carry on paying the £818 a month..

Max_1066

There's a lot of factors the creditors take into account however from what I can gather some are more difficult to deal with than others. It also depends how old the debt is.

I had one creditor refuse but as their debt was less than 25% of the total the IVA was approved (thankfully).