If one is not satified,can one change their IP?

How does work? and What is the procedure?

How are the creditors informed?

How is the court where IVA is registered originally informed?

What are the draw backs?

unchain

First of all they have to issue defaukt notice giving certain amount of time then Solicitors letters demanding full payment, then court claims forms,if the court jurisdiction is out of your area you can appeal for change to local court and then if required complete forms and make an offer. AT ALL TI...

Not happening at present,if it happens.

cant I let my spouse and children live in the house,I paying mortgage.I do not think that my spouse will have any hold on house as it will be my nane.

This may reduce maintanance payment.

I am just considerng in case.

unchain.

This may increase out goings,because of maintanance payments and also can the house be left to spouse and children. This may be an easy option. And maintanance payment may be less.



unchain.

IVA is in in only one persons name,who happens to have the mortgage in sole name,but no equity.but there is clause of remortgage in 4th year.

Spouse has no income or other source of money.

unchain

as IVA is for 5 years,a long time, what happens if the marriage fails and ends in divorce?

unchain.

Can a spouse or a partner give money to a person in IVA for a full and final settlement.

unchain.

How is spouses savings treated in an IVA.

unchain.

thanks Melanie,

Is there any insurance company that the forum can recommend?
it is just that I am worried of my spouse and children in the event of my death.
unchain.

Dear Melanie, Hypothetically, Insurance to cover IVA? you mean for the original sum owed to the creditors? My thinking was that I would be paying the original dividend agreed or may be a little more,to unchain my self. Paying insurance premium would increase expenduture,I not sure if IP wiil agree,t...

Dear all, Hypothetically,Let us say that things are getting very hot as the days pass on and the individual can not bear it any more. The only solution appears to be an IVA.which let us say is successful. If it had not been for IVA,the situation would have been untenable and things would gotten wors...