Closure of proposed accounts

17 posts Page 2 of 2
Post Reply
 
 

OPTIMIST12

User avatar
Posts: 683
Joined: Mon Aug 06, 2007 1:47 pm
Location: United Kingdom
Post by OPTIMIST12 » Tue Apr 15, 2008 9:23 am
Quote
With reference to the first post - it is important to remember that - after the initial approval of the IVA - you still remain fully liable for the total amount of debt until such time as the IVA is successfully concluded. Only then is there a "writing-off" of debt. So if the IVA fails for anyone reason then the original debt - minus payments made - remains.

Not wishing to sound negative - but its important to remember that!!!!

Good Luck to all of you!!!!
47 months completed - 13 months to go.
Top
 
 

clive.g

User avatar
Posts: 77
Joined: Tue Apr 08, 2008 3:36 pm
Location: United Kingdom
Post by clive.g » Tue Apr 15, 2008 1:03 pm
Quote
Yeah I totally understand that Optimist12..

Even if it is approved I know it will not totally be cleard until all payments are made/ or a final payment can be put foward.. But its Definatly a relief if it does get approved as it gives you a more manageable way with your money until it finally gets paid off.. Then perhaps thats really the time to celebrate! ;-)

Thanks Optimist12 for reminding us of the situation still even if approved..

Clive
A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain
Top
Post Reply
17 posts Page 2 of 2
Return to “postings for april”