It is possible to apply for a second IVA to be considered following the failure of the first. As Viki points out the reasons why the first failed to have to be addressed. Your creditors will have to be convinced that the second IVA will not suffer the fate of the first and as such are going to want ...

I am a little baffled as to why a Certificate of Non Compliance has been issued? Is that the case or have you been told that one will be issued? If your sole breach of the arrangement proposal was the non payment of the post arrangement liability then you have remedied that breach by paying the liab...

Right - with regard to fees, as a practicing IP it does take more time to call a variation meeting and therefore why should we not be paid for that extra work. IP fees are being chopped drastically at the moment - and personally I am fed up of people having a pop at them. Try running an IP practice...

This is not an uncommon scenario. Even in a sole IVA there are always going to be conflicting modifications What ought to happen is that the creditors submitting the conflicting modifications should have have been contacted and resolution sought resulting in either one modification being withdrawn o...

Thanks for responses. I've now checked and the IVA company say they have no authority to reduce the monthly payment without calling a creditors meeting, which could take months to organise. I have also been reminded to carefully consider the implications of attemping to reduce my monthly contributi...

I would also consider asking them to reduce the fee that they are proposing to charge for a variation meeting. To me £1,000 seems an outrageous amount. I bet that is not the standard charge for a variation meeting and the costs have been artificially inflated because of the high level of your contri...

As an after thought which will be important for some people no doubt : this refund or payment of less tax however it's done has to be funded up front by the employer. In the case of 'small employers' who: (a)genuinely cannot 'afford' to fund this up front or (b)In the case of those who do not reach...

Section 262 first sprang to mind, but that only seems to deal with challenging the meeting's decision once an arrangement has been approved. It seems unfair that Egg have been allowed to prejudice the rights of all those other creditors and there is no provision in the Act to deal with that. In the ...

It does not matter if it is more work for the IP. If a debtor is experiencing difficulty and wants the IP to put forward a variation to the terms of the arrangement, they should formally request the IP do so. If the IP is using the R3 Standard Terms and Conditions then he has a duty to convene a mee...

What needs to be established first of all is that the creditor was initially informed of your intention to enter into a voluntary arrangement or if they are a creditor who did not receive notice of the meeting. It may well be that the creditor is listed on the proposal, but somehow the person respon...

An IVA can be extended to any length IF your creditors agree to it. The maximum amount of time is therefore whatever the creditors agree to. From your post, correct me if I am wrong, I believe that you are currently in arrears with your contributions. Have you advised your Supervisor the reason for ...

I think the first thing you need to establish is what the position is regarding the security given against the loan. What security was given to them? Your wife may be in an IVA, but is the creditor? Or are they relying on their security? Whichever way you look at it, it is a joint and several liabil...

It sounds as though you are in arrears with your contributions but not to the extent that the arrears constitute a breach to the terms of the proposal. I would have hoped that you have been keeping your Supervisor advised of the reasons why you have been making the erratic contributions. I believe d...

Not all of your creditors need to agree to the arrangement for it to be approved . You will require a 75% majority in value of those creditors voting on the day. You may have say £40,000 worth of unsecured debt in total. If only £20,000 worth of those vote on the day and 75% of that £20,000 vote to ...

This link will tell her how much redundancy pay (Which is paid without deduction of Tax and National Insurance) she would be entitled to receive following compulsory redundancy - http://www.berr.gov.uk/employment/employment-legislation/employment-guidance/page33157.html In addition she should be ent...