Seems a backwards step with no advantages. I can understand someone forced into bankcruptcy going for an IVA after bankcruptcy, but to go into an IVA after petitiononing for my own bankruptcy seems unsuitable. I have obvioulsy chosen BR over IVA for a reason, it was just that an FTVA seemed good in that it was all over with up front (and at perhaps at a lower premium than a pre bankcruptcy IVA where the creditors think they are doing you a favour!).
Absolutely - it makes no sense whatsoever! And you will really struggle to persuade the OR to put forward a FTVA on the back of a debtor's petition - if you want an IVA you should do this instead of bankruptcy now.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
Beneficial Interest
Posted - 25 May 2008 : 22:56:26
