Posted: Sun Mar 04, 2007 10:50 pm
What does this mean?
I've received an updated terms and conditions letter from egg stating " As long as they comply with the consumer credit act they can ask for the full amount owing if
become bankrupt, propose IVA or other creditors arrangement".
My plan of action was to propose IVA if not accepted at an affordable level, sell property, use small amount of equity to fund move to rented accomadation, and then petition for bankruptcy, I was intending to keep up payments until property sale had gone through to avoid charging orders etc. Would this not be possible in the light of eggs revised conditions effective 1st April? Thank you for your help.
I've received an updated terms and conditions letter from egg stating " As long as they comply with the consumer credit act they can ask for the full amount owing if
become bankrupt, propose IVA or other creditors arrangement".
My plan of action was to propose IVA if not accepted at an affordable level, sell property, use small amount of equity to fund move to rented accomadation, and then petition for bankruptcy, I was intending to keep up payments until property sale had gone through to avoid charging orders etc. Would this not be possible in the light of eggs revised conditions effective 1st April? Thank you for your help.