If you get refused an IVA

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jonathan398
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by jonathan398 » Sun Sep 10, 2017 8:17 pm
If you get refused an IVA due to a large portion of debts being with creditor is there any point on reapplying
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Foggy
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by Foggy » Sun Sep 10, 2017 8:22 pm
If the creditor votes no -- if they might change their minds depends on the reasons for the no vote and whether the proposal could br amended to reflect this. If it is their policy to refuse -- then you are stuck if they carry the voting weight to out vote the others.
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Michael Peoples
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by Michael Peoples » Mon Sep 11, 2017 8:42 am
It depends on why the creditor rejected. Some creditors do reject all IVAs if they hold enough votes and if that is the case there is little you can do. You could consider bankruptcy or debt management so chat with your IP.
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