Hi All, I'm 57 months into my IVA so the end is most definitely in sight.
I have a random question I’m hoping someone can answer please?
Today, out of the blue I received a letter from my Insolvency Practitioner which said please find enclosed a copy of the variation meeting pack, sent to creditors, for the meeting to be held in early February. The pack consisted of a cover letter, a Supervisors abstract of receipts and payments, Requisite Majorities information and a proxy IA form
What is this meeting and why is it needed. I’m possibly worrying over nothing but I couldn’t find any reference to it on the internet. Variation to me implies a variation to the terms of my agreement. It’s too late to call my IP but I’m worried they’ll try and extend the original 60 months term or request additional payments etc.
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
Ask your IP how they can call a variation without your consent. The IVA is a contract between you and your creditors so I fail to see how an IP can unilaterally change this. Did you sign anything?
