beverley191 wrote:Thanks I have emailed it over. They are actually my smallest debtor £700 and I made a min payment this month so I haven't yet missed a payment. I guess it's all part of the process I'm just super nervous about the whole think. Thanks for your help
A default is lodged when the relationship between debtor and creditor breaks down and declaring yourself insolvent is considered to be such a breakdown. During the course of youe IVA you want all of your creditors to default you, with a default date on or around the date the IVA starts --- this means that the defaulted accounts will drop off your credit files in 6 years, when the IVA does, so giving you a "clean" credit file.
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