Deadline for IVA?

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renu
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by renu » Tue Jun 06, 2017 8:05 am
is there a deadline for IVA? i am planning to go for it.
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Lisa Thomas
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by Lisa Thomas » Tue Jun 06, 2017 9:06 am
Every IVA is unique.

There is no deadline.

The time pressure therefore depends on your own circumstances and whether or not any creditors are pressing for or commencing recovery proceedings against you.

For example, if Bankruptcy proceedings have started or about to start then this would put pressure on you to get any IVA in place quickly before you either lose the opportunity or it gets more complicated and expensive to try to put in place before the B/Order is made or even afterwards.
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Foggy
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by Foggy » Tue Jun 06, 2017 9:19 am
Hi. What do you mean by "Deadline" ? All circumstances differ and timescales will depend largely on your own. If you have recovery action looming an IP can apply to have a stay put on it while you set up an IVA, if the IVA is, indeed, the better option.
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Ryan
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by Ryan » Tue Jun 06, 2017 10:10 am
Hi Renu,

Are you asking if there is a deadline by which time you have had to apply for the IVA (like with PPI claims)?
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