t is only unsecured creditors who take part in voting in relation to the establishment of a voluntary arrangement. Any creditor with security (usually your bank) will not be entitled to vote for its debt to the extent that the debt is secured. By and large, creditors will regard the situation entirely pragmatically. If they feel that the debtor (be it an individual or a company) is making an honest attempt to achieve the best for his creditors then, provided the creditor would not be better off in bankruptcy or liquidation proceedings, they are likely to vote in favour. However, a full and frank disclosure of the debtor’s assets must be made (indeed, it is a criminal offence not to) and the debtor must make a genuine attempt to make a decent offer to the creditors. As well as this, however, the attitude of creditors will be affected by their relationship with you and whether they see the voluntary arrangement as reasonable and credible. Your licensed insolvency practitioner can help in what are often complex and difficult negotiations.