question category: IVA

My creditors are proposing modifications to my IVA. What does this mean?
Submitted on: 28th Oct 2008 by Non-Member | Total Answers: 1

Do I need to agree to modification to my IVA proposal?

Answer this question

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Re: IVA Modifications

Before an IVA is agreed, your creditors can propose ‘modifications’ or changes to the terms of the proposal. You do not need to agree to them, but if you don’t, it may affect whether your IVA is accepted. If you don’t agree to the modifications, your IVA may still be accepted and all you’ll need to do is keep the repayments originally proposed. If you do accept the modifications, you’ll need to ensure you keep to the new arrangement terms. It is really important that you keep up with your IVA repayments and tell the company managing your IVA if your circumstances change. 

Submitted on: 29th Oct 2008 by TA Member

0
 

Post new comment

The content of this field is kept private and will not be shown publicly.
Type the characters you see in this picture. (verify using audio)
Type the characters you see in the picture above; if you can't read them, submit the form and a new image will be generated. Not case sensitive.

Featured Debt Charity

“What we like most about the help the Debt Advice Foundation provide is it’s balanced and fast. You’ll get the right solution suggested confidentially in hours not days.” Debt Advice Foundation