Will we incur any admin costs if we abort process of starting an IVA ?

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Elizabeth.d

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Post by Elizabeth.d » Tue Sep 22, 2015 9:30 am
We are at the stage where we have received a copy of the draft proposal for an IVA. Will we incur any admin costs if we abort the process? we have not yet signed the proposals.
 
 

kallis3

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Post by kallis3 » Tue Sep 22, 2015 9:34 am
I don't think you will but not sure.

Is there any reason why you don't want to continue?
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Michael Peoples

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Post by Michael Peoples » Tue Sep 22, 2015 10:15 am
We do not charge if any clients cancel but perhaps other firms do. You need to check any agreement you signed to see. I would however, like Kallis, be curious as to why you want to cancel now you have the proposal. Was it not explained to you properly or are the payments not affordable?
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longslog101

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Post by longslog101 » Tue Sep 22, 2015 10:48 am
Or is there perhaps bound by protocols which included "secure loans" outside of re-mortgaging for any equity in a property ?

I too am curious, or perhaps you have read reviews on here about said firm and it has been a "phew, that was close" ?????
Last edited by longslog101 on Tue Sep 22, 2015 10:49 am, edited 1 time in total.
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size5

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Post by size5 » Tue Sep 22, 2015 12:24 pm
At this stage you should incur no charge, but I am aware of IP firms who may reserve the right to charge you if you were to get all the way to creditors meeting stage and then pull out, which I suppose is understandable. Doesn't sound like that is the case here though.

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