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Posted: Sun Sep 09, 2007 7:42 pm
by Chris.z
I know I have asked this before but just want to get it straight, so sorry before I ask! If an IVA fails can you go into a DMP or will one or more of the creditor's file for Bankruptcy.
Regards
Chris
Posted: Sun Sep 09, 2007 9:12 pm
by MelanieGiles
It is unlikely that any of the creditors will petition for your bankruptcy, but this cannot be ruled out completely.
If you haven't been able to fund an IVA, what makes you think a DMP will be any different? And if it is a case unaffordable monthly contributions, why not ask your Supervisor if the arrangement could be varied.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Posted: Mon Sep 10, 2007 12:01 pm
by Oliver
Yes it is possible to go into a dmp at this point but I think Mel's point is a valid one.
Is there a reason why you would want to avoid bankruptcy?
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp