iva company

[Phil]

Hi
What happens to your IVA If the IVA company you are dealing with goes out of business ? I have just thought about it and unsure of the situation.
Thanks in advance for your replies

Phil

up the rams

[MelanieGiles]

Hi Phil

In the unlikely event of an insolvency practitioner going out of business, with no successor firm lined up to take over the practice, then the IP's own regulatory body would step in initially to deal with those cases, and offer them to other insolvency practitioners to take over.

I have actually been involved on the other side of this twice in my career, and the IVA cases I have taken over have run quite successfully to conclusion with little disruption as a result.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Phil]

Thanks Melanie just with all the talk of the banks looking to try to slash IP costs and this meeting on Thursday and obviously paper talk about Debt managment companys struggling it just made me wonder.
Phil