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IVA failure
larikin
Posts: 1 Newbie
has anyone here failed on an IVA and who were they with? Does it happen often?
0
Comments
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what do you mean by failed?
i.e. creditors didn't vote in favour of the IVA proposal
or IVA was started but the debtor could not keep making the payments?0 -
About 30% of IVAs fail. Expect to see this figure rise as mis-selling has become widespread over the past 12 months.0
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In reality as long as you have a sensible budget in place an IVA should not fail unless there's suddenly a drastic negative change in circumstances. IVAs are not as strict as people think and your IP will let you miss a payment or two in exceptional circumstances. For example, my clutch went recently costing me £350 and Payplan where happy to miss a payment and stick it on the end.Debt as at 12th July 2006 - £61,345 :eek: :eek: :eek:
Debt free 21st Oct 2011.
All thanks to :money:0
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