If my IVA is settled, is this the same as the IVA failing ?

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Yeleek1
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by Yeleek1 » Fri Mar 03, 2017 7:38 am
My IVA officer is going to recommend at a creditors meeting that they settle as my financial circumstances have changed my childcare costs have gone up and Im not left with enough to meet the payment each month. If they 'settle' is this the same as the IVA failing? Can the creditors still come after me once its settled?
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kallis3
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by kallis3 » Fri Mar 03, 2017 8:01 am
Hi,

It sounds as though they will be accepting payments to date and finishing your IVA. If that is the case then your creditors cannot come after you.
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Foggy
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by Foggy » Fri Mar 03, 2017 8:03 am
This is basically the creditors agreeing to end the IVA on payments made to date --- calling it quits .... not a fail but an early successful end.
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