what other option if iva rejected

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jo.a

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Post by jo.a » Wed Feb 06, 2008 8:13 pm
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hi .. what will be an alternative if iva proposal was rejected ,can i still keep on trying ??? can i try dmp or just plain bancruptcy ..tnx
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Adam Davies

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Post by Adam Davies » Wed Feb 06, 2008 8:28 pm
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Hi
You can do either.
Most people opt for a DMP with a view to trying for an IVA when the SIVA is introduced[Oct 08].
Regards
Andam Davies
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jo.a

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Post by jo.a » Wed Feb 06, 2008 8:39 pm
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what is SIVA...tnx
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carlmcmullen

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Post by carlmcmullen » Wed Feb 06, 2008 8:52 pm
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SIVA stands for Simple IVA.

The main diffence between a normal IVA will be that only 50% of creditors have to accept the proposal instead of 75% and they cannot propose any modifications, it is a simple yes or no vote.
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Cybus

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Post by Cybus » Wed Feb 06, 2008 8:54 pm
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A point of interest and relevance to this opening post can be found on another section of the forum ...

In a nutshell, the persons acting for jo.a have suggested that full disclosure of certain facts is not made in the proposal and further the expenditure should be doctored to cover this up.

In my opinion, no matter what the circumstances, Income and Expenditure should reflect true income and true expenditure.

I'm still shaking my head from reading that other post. I think what has been suggested is appalling and it may seem harsh, but I would have little sympathy if the proposal was rejected.
Tell it like it is.
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carlmcmullen

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Post by carlmcmullen » Wed Feb 06, 2008 8:57 pm
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Really i would be interested read that one...

Can you post a link ?
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Cybus

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Post by Cybus » Wed Feb 06, 2008 9:01 pm
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carlmcmullen wrote:

Really i would be interested read that one...

Can you post a link ?
http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=9071
Tell it like it is.
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carlmcmullen

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Post by carlmcmullen » Wed Feb 06, 2008 9:09 pm
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I to Cybus am shocked.

Full disclosure is the Key to a successful IVA i am suprised the IP is sugessting such a thing.
Last edited by carlmcmullen on Wed Feb 06, 2008 9:11 pm, edited 1 time in total.
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