www.iva.co.uk

Hi
I've had my variation proposal letter through and there's a clause that doesn't sit right with me-
"Should the debtor be in breach of their IVA at any point in the future, the Supervisor will have absolute discretion to declare the arrangement as failed including whether to petition for the bankruptcy of the debtor, without further recourse to creditors"

This seems a bit unnecessary as surely anything along these lines would have been covered in the original proposal?
Any advice/guidance much appreciated
Thanks

I would tend to agree and look at your original documentation to see what it says about failure. I woukd ask them why it is now written in that way and to ensure complete clarity is made before signing it off.

Payplan always add this clause in, but will remove it when asked. I don't know if you are with them or another firm, but, whoever you are with should remove this wording on request.

Thanks, it is Payplan. I'll ask for it to be removed