We're currently around 4 months into our finance, we own it at the end, with no balloon payment. It is 5 years long.
Our creditors meeting to see if they accept the IVA is 17th July. We have agreed we will pay the extra to creditors for the final four months. We have therefore not listed them as a creditor.
But...I have just read the agreement and it says they may end the agreement after giving written notice, if we call any meetings of creditors or make a proposal for a voluntary arrangement with our creditors, or a reciever or similar officer is appointed over any property we own.
We own no property.
Are they really likely to act on this does anybody know? It has been factored into our budget for the IVA, we haven't and wouldn't miss a payment.
Please help, this situation is giving me more stress than reassurance right now, I'm starting to question my decision to enter this IVA!!!
Who is onlineUsers browsing this forum: No registered users and 34 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location