www.iva.co.uk

could anyone explain why their is a column for bankruptcy and iva on paperwork for meeting after month 54 .I have read through the agreement and their is no mention of bankruptcy.
It reads
If unable to obtain mortgage will not be viewed as failure and supervisor will have discretion to consider accepting
3rd party sum to 85%
or
12 extra payments
protecting creditors interests
Is the normal
thanks

Pretty sure this is standard. If for any reason you are not compliant to terms of iva bankruptcy remains an option throughout.

Bankruptcy is a fall back in the Standard Conditions for any act of non-compliance. It is also referred to at the start and sometimes during the IVA for comparison purposes.

It is still the norm, these days, to get the extension.