Why would I vary the terms of my IVA, and what would it involve?
When you enter into the IVA, it is based on your current circumstances, which may change in the future.
You could be made redundant, or change jobs and your income is lower. This will have an impact on your ability to repay your monthly IVA payments. If this happens, you should contact us to explain your change in circumstances and we will be able to advise you what will happen next.
You may also find your circumstances have improved, perhaps you have come into money, and therefore you may be in a position to discuss an early settlement of your IVA. Again, contact us. We would discuss the nature of the variation and if it is an option, a new set of proposals will be drawn up and forwarded to you for you to sign. Once these have been returned, we will present it to the creditors for their consideration. The new Creditors Meeting will follow the same pattern as the original one. At least 75% in value of the creditor's who vote, will need to accept the new proposal.
For more information, call us on
0800 16 999 46 or simply fill in the online application form above. Our initial advice is free and completely confidential so why not give us a call today...
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Insolvency Practitioners at Money Debt and Credit Ltd act without any personal liability
Money Debt and Credit Ltd, Registered in England & Wales No.05588842.
Registered Office: 45 Clarendon Road, Watford WD17 1SZ