What is a Variation on an IVA

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andrewgoodman121

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

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Post by Viki.W » Sun Jun 29, 2008 11:19 pm
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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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http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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MelanieGiles

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Post by MelanieGiles » Sun Jun 29, 2008 11:35 pm
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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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