Questions about Individual Voluntary Arrangements and Insolvency.

Moderators: TalbotWoods, JaneClack

By worried1too
#124147 I have seen on a previous post that loans from family and friends can be included in the IVA for voting purposes and you only need 50% of the voters to say yes (as friends and family will vote yes usually). But the friends and family get nothing from the IVA in payouts.

Theoretically if someone owed £100K to other debtors and £15000 to friends and family. total debt would be 115k for voting purposes and 100K for payout purposes, so having friends and family on the proposal shouldnt do any harm to the person going into the IVA. Am I right?
By fatboy88
#124354 I've asked about this and payplan say the creditors can ask to have the family votes excluded so i'm not sure really