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Hi,

I have got my meeting on the 1st March for my IVA and fingers crossed it will be accepted. But mean while whilst the proposal is being sorted out, EGG and CITYBANK have insructed credit collection companies to hassle me, even though they have been informed and aware of the meeting taking place. What would happen if the IVA was to fail, this is my second meeting as the first attempt failed, MINT and EGG rejected, would ballifs come to my house, at the moment I have seem to have protection because of the pending IVA, but what would happen if it failed. What would be the next stage I could do.

Justin

Hi Justin and welcome to the forum.

As a matter of interest why did your first IVA fail? And what have you done to improve the offer now, that could not have been done during a 14 day adjournment of the first meeting?

You will only have protection under the pending IVA, if your IP has obtained an Interim Order from Court. In reality, this procedure is rarely used these days, unless there is a direct threat to assets such as a Charging Order or Bankruptcy Petition pending.

The fact that some of your debts have been referred to collection agents is irrelevant in the short timescale between now and your meeting. Most of these companies are toothless, but you should continue to advise them of the situation. Also make your IP aware of this, as he/she will probably need to send them copies of your proposals.

Good luck with your second attempt - a shame it didn't work first time.

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

Hi
I found collection agencies easy to deal with.If your IVA is unsuccesful then just pay them a nominal amount, but REGULARY,until you decide on the next route for you and your debts.
For info Baliffs can only call round AFTER they have been given a court order and this will probably only happen if you fail to make payments under a CCJ.If you are taken to court[county court] then send in an income and expenditure statement with a letter and offer a monthly payment that you can realistically afford.If a judge agrees to this then as long as you pay it on time you should be ok.