Dear Sirs,
Today I received a draft proposal from my administrator whereby they plan to call a meeting of the creditors to make my iva a paid up policy.
I have been in the iva for 78 months and send them evidence money cannot be raised for the equity value from my home.
My concern is that within this draft proposal there is a paragraph that states should the creditors not except this proposed paid up agreement , the supervisor will fail the iva and petition for bankruptcy !, this is after them telling me I cannot be made bankrupt ?
Can somebody offer me some advice please
Some companies put this in to cover themselves and people have asked for this to be removed if they are unhappy with its inclusion.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
I had this in mine and insisted it was removed, which it was.
Stick to your guns.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
This is unnecessary and if creditors want bankruptcy they can demand it. This is unlikely anyway so tell the IP to remove it as it is causing you concern.
