Anna
Some of the questions you are asking make me feel that you have not been properly advised at all about the IVA process. Have you had a proper meeting with your IP - either on a face to face basis or over the telephone?
Your IVA will not be confirmed until the creditors meeting, where creditors will review your proposals and decide whether they wish to vote in favour of them or against. Have you signed your proposal documents yet, and read through them properly? If you have them but are yet to sign them, do make sure that you read through them carefully, take a second opinion if you are not sure, and importantly make sure that you can afford the payments.
I have a lot of taxi owner clients, and you need to be sure that you can pay the payments during the poor months - Jan and Feb as well as the good months - Dec. Have the proposals been based upon figures that you have provided or figures you have been told are allowable. This is dangerous for a self-employed client, as you have to be able to suffere peaks and troughs of trading. For my self-employed cases, I allow a three month window for payments, which just gives a bit more flexibility to pay more over good months and less over poor months. Why not ask your IP if this provision could be written into your IVA proposal.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
