Frequently Asked Questions
1. Why should my creditors agree to an IVA?
In bankruptcy, creditors usually receive nothing. Therefore, an IVA if
appropriate offers a reasonable return and is supervised by an Insolvency
Practitioner who, with your co-operation, ensures the IVA is conducted
satisfactorily.
2. What if a creditor does not accept my IVA proposal?
If over 75%, by value, of your voting creditors, vote in favour of your proposal
then the IVA is accepted. All your unsecured creditors are then legally bound
by the IVA and cannot pursue you.
3. How do I pay your professional fees and costs?
All fees and costs are paid from the payments you make into the IVA and your
creditors are fully aware of the fees and costs. Therefore, there are no
additional monies to be paid. next>>