dont know what to do

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jv~

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Post by jv~ » Thu Jun 28, 2007 12:35 pm
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just been informed by my iva company that they are terminating my iva due to default. what happens now? i must avoid bankruptcy

thanks
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MelanieGiles

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Post by MelanieGiles » Thu Jun 28, 2007 12:52 pm
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Hi jv and welcome to the forum

Can you post the reasons for the default in the IVA, and how much you were originally required to pay?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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jv~

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Post by jv~ » Fri Jun 29, 2007 10:39 am
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Sorry I've started another thread on the same issue, can you post your reply in there please?

Well the default is quite complicated. I had a period of employment last year, missing 7 paymets. The iva company agreed to make a payment break and increase repayments for the rest of the term. I then was late with a payment and received the notice of termination due to the propsal saying if i miss three payments, even non consecutive.

I proposed payments of £250 at the meeting this was increased to £280
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