Reasons to Fail IVA,

Get expert opinion. This is the place for new questions to be posted.
9 posts Page 1 of 1
Post Reply
 
 

raj59

User avatar
Posts: 1
Joined: Sun Dec 14, 2008 8:25 pm
Post by raj59 » Sun Dec 14, 2008 8:25 pm
Quote
Reasons to Fail IVA, Can anyone tell me what/how could fail IVA???
Top
 
 

james.c

User avatar
Posts: 733
Joined: Wed Jul 04, 2007 10:15 am
Location: United Kingdom
Post by james.c » Sun Dec 14, 2008 8:27 pm
Quote
if you stop paying it for more than 3 months then it will fail
Top
 
 

TheMatrix

User avatar
Posts: 2171
Joined: Sat Mar 17, 2007 8:32 pm
Location: United Kingdom
Post by TheMatrix » Sun Dec 14, 2008 8:28 pm
Quote
I would imagine it would fail if you stopped making the agreed monthly payments into it. Not sure how else it could fail though.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
Top
 
 

flumpy dog

User avatar
Posts: 2483
Joined: Sun Oct 19, 2008 7:57 am
Location:
Post by flumpy dog » Sun Dec 14, 2008 8:31 pm
Quote
do you mean why a proposal wouldnt be accepted or actually it failing whilst it was up and running ?
Top
 
 

Skippy

User avatar
Posts: 20706
Joined: Sat Oct 21, 2006 6:08 pm
Location: United Kingdom
Post by Skippy » Sun Dec 14, 2008 8:32 pm
Quote
If you breach any of the terms of the IVA this could cause it to fail.
Top
 
 

Julie

User avatar
Posts: 9478
Joined: Thu Feb 14, 2008 10:56 pm
Location: United Kingdom
Post by Julie » Sun Dec 14, 2008 8:35 pm
Quote
taking out credit whilst in an IVA is a reason for failure, but not making the agreed payment is prob the biggest reason for failure.
Top
 
 

kallis3

User avatar
Forum Expert
Posts: 77157
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom
Post by kallis3 » Sun Dec 14, 2008 10:09 pm
Quote
Not paying across the agreed percentage of overtime or not paying across a windfall could be another reason.
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
Top
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9562
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom
Post by plasticdaft » Sun Dec 14, 2008 10:40 pm
Quote
Why you asking Raj??
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Top
 
 

David Mond

User avatar
Posts: 4896
Joined: Tue Sep 30, 2008 9:31 pm
Location: United Kingdom
Post by David Mond » Tue Dec 16, 2008 3:57 pm
Quote
Not complying with all the terms in a IVA (your proposal) could give rise to failing it.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Top
Post Reply
9 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”