what happens if an IVA is turned down

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toolbox

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Post by toolbox » Wed Jun 09, 2010 11:00 pm
Out of curiosity, what happens if an IVA is turned down by creditors and there is no resolution to it??
 
 

MelanieGiles

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Post by MelanieGiles » Wed Jun 09, 2010 11:23 pm
This simply means that one of the debt solutions which is available to you is no longer - and you would then need to consider whether bankruptcy proceedings or a DMP would be your next choice.

Try to pick an IP firm with a high success rate - and you should sail through your application.
Regards, Melanie Giles, Insolvency Practitioner
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