www.iva.co.uk

Hi just received a letter from saying pay balance in seven days or may take legal action. Wil send it to IP - what should I expect - what will their next move be?

You will probably get the Summons paperwork in the next 10 days, judgement + 28 days - then they will push for a charging order.

Will depend on where you are upto in the IVA process as to how effective they will be in getting the charging order.

I think we are about 4 weeks away from a creditors meeting - what amazes me is that I have only missed one payment? Whay are they going so far so quickly? Should I ring them and try and discuss this with them?

Are they aware of your meeting date ??

Brachers are process driven... once you are in they just keep going unfortuanetly.

WE have not got the date yet - is it worth me dicussing this with them?

You can give it a try - I am very suprised that they are being so agressive when you are 1 down... Is it a large balance ??

I feel ina way by trying to do the right thing and being honest and letting them know waht is going that they have used that to try to get ahead of the IVA process - try and get a chrging order before the creditors meeting - but given what you have said I would have though that for an order they are looking at september at the earliest - do you agree?

Once they have judgement they can apply for a charging order 7 days later, an interim order is normally granted on application and then its +28 days for it to be made final so yes late August early Sept earliest.

If for any reason your IVA is rejected they are well on the way to securing there debt.

Can I contest the court order and show the judge what I am doing ?- and would that not give preference over my other creditors?

You will only be able to contest the order if you do not agree that they money is due. Your IP could apply for an Interim Order, but what I would do is speed up the process of the IVA. Why is it taking so long to put together?

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

Not sure really - we went through an intermediary and that seems to have taken a month to achieve not much - now we we finally know who the IP is I hope it will speed up. So our only hope s to get to the IVA first then? My only concern with the IVA s that we are on the - the IP says he will explain why in the proposal.

Sorry lot's of questions but this has really come out of the blue[V]