Thu Aug 29, 2019 9:06 amFoggy wrote:I just had my requested call back from FJ and they say making a settlement proposal now is fine and so happily that doesn't apply. But thanks for the heads up, so I knew to ask!Thu Aug 29, 2019 8:57 amCassieT wrote:Some arrangements have a clause written in, requiring the IP to invoke bankruptcy on failure of the IVA, but I believe this is uncommon these days.Thu Aug 29, 2019 8:54 amLisa Thomas wrote: I doubt the creditor would make you Bankrupt but the IVA Supervisor might, depending on the terms.Surely FJ have ZERO say in whether or not my creditors accept my settlement offer? If my creditors decline my proposal, I thought the worst FJ could do was declare I'd failed to complete my IVA, and put me back at the mercy of my bank and collection agencies?
Thu Aug 29, 2019 8:57 amCassieT wrote:Not necessarily, if a variation is rejected and the IVA fails as a result the Supervisor might be bound to bankrupt the debtor.Thu Aug 29, 2019 8:54 amLisa Thomas wrote: I doubt the creditor would make you Bankrupt but the IVA Supervisor might, depending on the terms.Surely FJ have ZERO say in whether or not my creditors accept my settlement offer? If my creditors decline my proposal, I thought the worst FJ could do was declare I'd failed to complete my IVA, and put me back at the mercy of my bank and collection agencies?
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