Failed IVA / BR - Options

Get expert opinion. This is the place for new questions to be posted.
22 posts Page 2 of 2

jame$bear

Posts: 15
Joined: Fri Jun 15, 2018 10:24 pm

Post by jame$bear » Fri Mar 15, 2019 8:52 pm
"If the variation is rejected we are obliged to call another meeting of creditors under the standard terms of the IVA asking crediitors what they want the supervisors to do. You would not be made bankrupt automatically on non approval of the variation."

Doesn't help much - sounds like it is still out of my hands and risky. I'll have to get on the phone to them next week.

jame$bear

Posts: 15
Joined: Fri Jun 15, 2018 10:24 pm

Post by jame$bear » Mon Mar 18, 2019 3:41 pm
Had news today that HMRC accepted our F&F. Phew! We need one more vote, from the liquidators of my old company.

kallis3

User avatar
Forum Expert
Posts: 74423
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Mon Mar 18, 2019 3:53 pm
Fingers crossed you get that!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

User avatar
Forum Expert
Posts: 28724
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Mon Mar 18, 2019 5:02 pm
That in itself can be counted as a victory -- let's hope the other vote comes in on the right side.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

jame$bear

Posts: 15
Joined: Fri Jun 15, 2018 10:24 pm

Post by jame$bear » Fri Mar 22, 2019 10:51 pm
...and indeed it did! Had the news today, so now the remaining votes won't matter. What a load off my mind - and to think 10 days ago I was sure BR was on the horizon. We have lost our house obviously, but it feels worth it. New beginnings!

kallis3

User avatar
Forum Expert
Posts: 74423
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Sat Mar 23, 2019 8:59 am
Great news - so pleased it went your way.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

User avatar
Forum Expert
Posts: 28724
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Sat Mar 23, 2019 10:01 am
Well done ! As you say .... New Beginnings :-)
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
22 posts Page 2 of 2
Return to “Ask IVA Forum and Industry experts”