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on what grounds would a iva not be granted

Hi Genna
There are lots of reasons why an iva is not possible. The proposal is put to the creditors who will vote on it you need 75% aggreement to be accepted any less and it is rejected, at that point it is up to the creditors to decide if the offer is the best you can offer and some have a minimum expectancy, some want 40% back. Also you have to be insolvent to propose an iva, more going out than coming in. Another reason may be that in a debt management plan if they froze interest they wouild get all of the debt back therefore eyou would not need an iva. These ar a few of the reasons.
If you post your situation eg income ,debt owed if you have any assets like property, and your expenditure minus the debt payments then someone will be able to give a better idea of a possible solution for you.
Hope this helps

Ang

sorry Jenna spelt your name wrong.

Jenna

As Ang has very ably explained to you, your right to have an IVA is entirely at your creditors door as they are the ultimate decision makers. Providing your proposals have been fully researched, and you are making the best possible offer, you should have nothing to fear on the day of the creditors meeting.

Choose an insolvency practitioner who has a good success rate, as this generally will indicate that they maintain a good relationship with the main banks and other lenders.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk