IVA FAQ's

Will my creditors agree to an IVA?

In order for an IVA to be accepted 75% (in value) of those creditors who vote have to vote in favour of it. At the same time they can propose modifications. For your protection the law prevents acceptance of modifications to which you have not consented. Unfortunately most modifications are proposed in such a way as to mean that your failure to give that consent will mean the creditor in question will vote to reject your proposal. When modifications are proposed, we will be able to explain their effect to you, but ultimately it will be for you to decide whether or not they can be accepted. The nature of modifications proposed by your creditors will depend upon your individual circumstances, and the relative voting powers of individual creditors.

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