can i stop my creditors from taking legal action

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markss

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Post by markss » Thu Jan 31, 2008 12:23 am
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I am at the early stages at applying for an iva. a company have gond through my IE and confirmed i qualify for an iva. whiltse this is being set up can i stop my creditors from taking legal action before the iva starts. also 1 of my creditors is welcome finance who dont seem very helpful insisting i pay at least 50% of my monthly payments. any advice appreciated Mark
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MelanieGiles

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Post by MelanieGiles » Thu Jan 31, 2008 12:42 am
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Hi markss and welcome to the forum

The only way you can stop creditors from taking legal action against you whilst an IVA is in progress is to apply to Court for an Interim Order. These are quite rare these days, and are only really necessary to defend against bankruptcy, attachment of earnings or charging orders.

Follow the advice of your IP with regard to ongoing payments - the reality is little difference whether you do pay or don't.
Regards, Melanie Giles, Insolvency Practitioner
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