Still working my way through the forms and could do with some help please.
My situation is that i have paid into a DMP for 2 1/2 years and last month i had an IVA proposal rejected. Based upon this information what am i supposed to put for these questions?
1. Have you made any compositions or arrangements with your creditors in satisfaction of your debts? Is a DMP and a failed IVA proposal a composition or an arrangement?
2. Have you entered into a voluntary arrangement with your creditors? Is the DMP classed as a voluntary arrangement and if so what date should i put as it is reviewed each 12 months.
3. Have you entered into or tried to enter into an IVA? Well yes i have tried but it failed, what is the date of arrangement as it isn't arranged?
Also could you tell me what happens once i submit the forms. I know i have to take a copy or three with me to court so what actually happens to the electronic copy submitted?
1. Yes you have. Both a DMP and (failed) IVA constitute an arrangement. 2. A DMP is an informal voluntary arrangement. I would put the date down that you enetered into the DMP. The OR will know these are reviewed regularly. 3. put the date your IVA proposal was rejected.
Don't forget you can make further notes to support your answers if necessary.
With regard the electronic copy, as far as I am aware, nothing happens to it. If anyone can give me a definitive answer on this one, I'd love to hear it!
SOA forms help please.
Posted - 02 June 2008 : 17:46:38
