Credit Crunch and IVAs

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blackczerny

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Post by blackczerny » Tue Jun 17, 2008 7:14 pm
I was just thinking - and having discussed this with a friend, today, too - that with the aforementioned credit crunch, rising inflation, typical 'going to hell in a hand-basket,' financial situation spreading across the UK that perhaps, just perhaps, creditors are going to be more responsive to IVA proposals.....if my F+F is rejected, for example, then I know I'll be struggling to make payments and that bankruptcy would then become a far more viable option than ever before. I'm sure other people would join me in that thinking, too. So, the (slightly hubristic) thinking goes, maybe those of us going into meetings over the next few weeks and months might have a better chance than if the economy was booming....

Any views on this?

Cheers

BC
 
 

MelanieGiles

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Post by MelanieGiles » Tue Jun 17, 2008 10:06 pm
I personally think that creditors are pretty supportive of IVA's in any case these days. The key is to ensure that the IVA is the best option for both debtor and creditors to guarantee success.
Regards, Melanie Giles, Insolvency Practitioner
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