IF iva proposal fails....

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anais743

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Post by anais743 » Tue Mar 18, 2008 2:38 pm
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Do you have the chance to go down the DMP route temporarily with the same IP before reapplying?

regards
'There are no secrets to success. It is the result of preparation, hard work, and learning from failure
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Oliver

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Post by Oliver » Tue Mar 18, 2008 2:40 pm
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If your IVA was not accepted you could enter into a dmp and then review the possibility of reproposing an IVA at a later date.
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Oliver
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size5

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Post by size5 » Tue Mar 18, 2008 2:40 pm
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Short answer is that you should ask the IP you have chosen.
Some do, some don't but may refer you instead to trusted associates.

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anais743

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Post by anais743 » Tue Mar 18, 2008 2:41 pm
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thanks.

has anyone gone down this route and been resuccesfull?
'There are no secrets to success. It is the result of preparation, hard work, and learning from failure
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size5

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Post by size5 » Tue Mar 18, 2008 2:43 pm
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Again, the short answer is yes although I obviously cannot divulge case details.

Regards.
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MelanieGiles

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Post by MelanieGiles » Tue Mar 18, 2008 11:54 pm
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If your IVA is rejected by creditors, and has been proposed by a reputable and thorough IP, this will be for a specific reason, which is bound to still be present if the case is represented, so you may find an IP is reluctant to do this without very good reason.

Best thing to do is get it right the first time.
Regards, Melanie Giles, Insolvency Practitioner
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anais743

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Post by anais743 » Wed Mar 19, 2008 5:03 pm
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thanks melanie.

ok so in the small percentage of the cases you have proposed but have failed what has happened next?

regrads
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luluj

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Post by luluj » Wed Mar 19, 2008 5:54 pm
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remain positive - if your IP takes the time to prepare all of the documents and paperwork and a meeting date is set then that should tell you that they believe it has a good chance of being approved!

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anais743

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Post by anais743 » Wed Mar 19, 2008 7:28 pm
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I remember reading in the past 2 weeks of 2 IVA failures (1 of melanies)and I just wondered what happened to those people in terms of a way forward?
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angela18

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Post by angela18 » Wed Mar 19, 2008 7:36 pm
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i try not to think if mine will fail, i'll drive myself loopy!!
Ang.. 13 payments in.. WOW, thats over 20% paid!! http://angela18.blogs.iva.co.uk/ well here we go

if you wish for a rainbow... then you have to put up with the rain xx
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MelanieGiles

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Post by MelanieGiles » Wed Mar 19, 2008 9:48 pm
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I have a case with a rejecting vote at the moment, but we are negotiating with the objecting creditor and I am still hopeful of a result.

If the IVA route is denied to you, you can declare yourself bankrupt or propose a DMP.
Regards, Melanie Giles, Insolvency Practitioner
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