Failure Process?

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Hugo

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Post by Hugo » Thu Mar 11, 2010 8:37 pm
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Does an IVA company have to wait for 3 missed payments before failing an IVA?
Circumstances have changed and I nolonger have disposible income so going bankrupt.
Missed payment for Feb and March but now have been informed that my arrangement has been terminated/failed after little more than 40 days.
Kept the Co informed that could not afford payments.

Regards
Hugo
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MelanieGiles

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Post by MelanieGiles » Thu Mar 11, 2010 9:49 pm
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No - if you tell your IP that you have no intention of paying any more money they ought to be able to serve you with a Notice of Default straight away.
Regards, Melanie Giles, Insolvency Practitioner
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flumpy dog

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Post by flumpy dog » Fri Mar 12, 2010 9:53 am
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hey hugo hope youre well.

are you intending your iva to fail or is it that you just cannot afford it ?
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