What does this mean?

When the IVA [1] proposal is drafted, we assess the latest requirements of people you owe money to involved before putting forward the proposal - we do not wish to offer you an IVA if we think it will be rejected by people you owe money to. Debt Free Direct have been assisting debtors through the IVA process for over 10 years with a consistently high success rate.

Whether or not an IVA is accepted depends on how people you owe money to vote and at least 75% of voting people you owe money to must be in favour of your proposal.

People you owe money to can also suggest changes to your proposal, known as modifications [2], and you can choose whether to accept them or not. If you choose not to accept them then that vote of people you owe money to is considered to be a rejection.

If the IVA proposal is rejected then we will review the situation with you and advise what steps should be taken. This may involve re-drafting the IVA proposal or considering alternative options available to you.