What happens when an IVA fails ? We are home owners

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Lucy.k

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Post by Lucy.k » Thu May 21, 2015 2:11 am
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What happens when an IVA fails ? We are home owners
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luluj

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Post by luluj » Thu May 21, 2015 5:02 am
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If an iva fails it depends on a number of factors and without some more details it is difficult to answer fully.

You will receive a notificatio of failure notice and your creditors will be informed.

If you are able to maintain your mortgage payments then in theory your mortgage company will leave you alone.

Your creditors may petition for bankruptcy.

You are best taking specialist advise on this pertinent to your situation
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

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Foggy

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Post by Foggy » Thu May 21, 2015 7:43 am
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Hi. Might I ask why you are concerned about failure ? Are you in an IVA and having problems ? Maybe we can assist with those and help get things back on track.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Adam Davies

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Post by Adam Davies » Thu May 21, 2015 11:28 am
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Hi

There is a risk of bankruptcy if your IVA fails but it will all depend on your creditors decision and they will be guided by your IP In most cases you are simply back to square one

Do you have HMRC as a major creditor ?

Regards
Andam Davies
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