IVA recently approved..

Jwoodhall

Hi all,
I’ve just had an IVA approved via PayPlan.

50k total debt, 25k of this was on a Barclaycard.

Barclaycard didn’t vote during the creditors meeting. Only a few small creditors voted. (About 7k worth of debt) and so PayPlan say that’s approved.

I was expecting Barclaycard to vote against it, my Barclaycard was 7k over its limit (long story, but a payment was eventually returned after a dispute which pushed me over the edge) and they’d closed my account a couple of months before.

Is there anything that they can now do to fight against my IVA or are they completely bound?

In the lead up to the IVA being approved they were adamant not to freeze interest etc..

Cheers,
J

Oliver2809006

No I've gone through the process and it's the percentage that counts regardless of how much you owe.

From memory it's 75% agree it's approved.

Take a look how much the actual IVA company take / profit from your payments - the creditors get virtually nothing. Not your problem though.