what if.....

[eeyore73]

i have just been accepted for an iva and im unsure what happens.

im waiting for the chairmans report.

but... if for some reason i cant make the payments, what will happen. will i be made to go bankrupt?

[?]

[hara]

Before that course of action is taken there may be a little flexibility to rectify things.

I do not think one would be made to go bankrupt for just missing a payment.

Itmay depend on yur IP.

Hara.

[Oliver]

Missing three payments will usually result in your IVA failing which could lead to someone petitioning for your bankruptcy. However the best route of action would be to keep in regular contact with your IP and aleart them to any difficulties you might have. Communication really is the key.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[iva_squirrel]

hi eeyore 73,

If your IVA fails you or your IP can petition for bankruptcy but i also believe that communication is key for a succesfull IVA.

Regards,
Michelle P.

[adam090376]

Dear eeyore 73
As oliver has said communication is key. I had a problem with payment and all I did was ring my IP and we come to an agreement. If you wish to read about this it is in this weeks postbag on page 2 called missed payment help!!!. by adam c
Adam

http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=4530
(added by admin)

[eeyore73]

Thank you all

i have so many questions to ask.

but after reading a lot of the coments and stuff i am starting to feel a lot better.

i will have a look at your post adam thanks

[:)]