What are my options if creditors don't agree there is no equity ?

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Shaund4351

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Post by Shaund4351 » Tue Aug 19, 2014 4:47 am
Was told at final review that had earned 8000 to much over the 5 years and now if the creditors agree have to pay 538 for 15 months this will take total payed to over 20000 original debt just over 15000 whats my options if creditors dont agree there is no equity
 
 

Foggy

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Post by Foggy » Tue Aug 19, 2014 8:20 am
Hi Shaun. At the beginning you agreed that extra earnings are to be paid into the IVA under the terms set out in your paperwork. So, this has to be paid. There are no options. If the creditors do not agree to allow the repayment of arrears over a period of time the IVA might fail and you will need to discuss ways forward with your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Adam Davies

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Post by Adam Davies » Tue Aug 19, 2014 9:26 am
Hi

Your IP and creditors will not challenge the equity amount if you obtain a verified valuation from a couple of estate agents etc

Regards
Andam Davies
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