Creditors must review your budget to see how you are spending your money when deciding whether or not to approve your IVA. Does that mean the creditors can say what you can, or cannot spend your money on? Watch this video to learn more.
Creditors use third-party companies to vote on their behalf in an IVA. These organisations ultimately make the decisions, but are they given instructions from the creditors on what to accept or what to reject?
Creditors use third party companies to vote on their behalf in IVAs. In this video Mark Allen from Grant Thornton discusses how these companies decide whether to approve and IVA or not on behalf of creditors.
Creditors use third-party organisations to vote on their behalf as a part of the IVA process. Sometimes these organisations do not 100% agree with the creditors decisions. What happens then? Learn more about the IVA process in this video.
Judges play a very important role in the bankruptcy process. Under certain circumstances a judge may or may not let you go bankrupt. Find out about the conditions for a bankruptcy refusal in this video.
There is no guarantee that your creditors will accept your IVA proposal and that you will be able to enter into an IVA. For whatever reason that your IVA proposal was rejected, are you allowed to submit another one in an effort to repay your debts?