What is a Variation on an IVA

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Post by andrewgoodman121 » Sun Jun 29, 2008 11:15 pm
What is a variation on your IVA.
What is the worse case scenario and could your IVA fail.


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Post by Viki.W » Sun Jun 29, 2008 11:19 pm
Usually a variation meeting is called if you have to reduce your payments by more than 15% due to a change in circumstances, or if you want to offer a full and final. You usually are not allowed to do this in the first two years. X
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Post by MelanieGiles » Sun Jun 29, 2008 11:35 pm
Variations can be put forward to deal with a number of differing scenarios which affect your ability to service the contributions you have pledged to make.
Regards, Melanie Giles, Insolvency Practitioner
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