my ip tell says with the paycut im about to get!there is no way that we can continue with the iva and the creditors will not reduce the payments till such times as things may get better(the motor industry!)i cannot explain where the other halfs money goes,i dont know?if the or decides that we can go on with the iva when we know we cant what happens then?
It is not the OR's decision to get you to continue with the IVA. Indeed, you will need to provide the court a letter from your IP confirming the IVA has failed otherwise they will not process your bankruptcy petition (this is all before an OR is even appointed).
Unfortunately, with an IVA failure, your only real option is bankruptcy.
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
decisions by the or?
Posted - 06 January 2009 : 10:18:09
