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Posted: Wed Aug 11, 2010 5:46 pm
by sick of it all
Can someone tell me what happens if your IVA fails? Can you go bacwards and go back onto a debt management plan with the same company or another company, or is the next step the dreaded bankruptcy??????? xx
Posted: Wed Aug 11, 2010 5:50 pm
by kallis3
Hi,
Yes you can revert back to a DMP with whatever company you choose.
You could also consider bankruptcy if you have no assets to protect.
Posted: Thu Aug 12, 2010 1:54 am
by MelanieGiles
It really does depend upon the terms of your specific proposal - your IP may have no choice but to make you bankrupt if your IVA is an older or non-protocol version.