What will happen if the majority of my creditors don’t like my IVA proposal?

If this is the case then they can ask for modifications to be made to the proposal. These will be discussed with you at the time of the meeting, if necessary the meeting can be adjourned for up to 14 days to allow you more time to consider the modifications.

Our IVA experience means that this seldom happens and if we have any doubts about your proposal being accepted then we would not put it forward in the first place.

If for any reason, the modifications to your IVA proposal are rejected within the 2 week period then your IVA will not proceed and you will be back to where you started.

Generally speaking, it’s in your creditor’s interests to accept your proposal providing it shows a real willingness on your part to repay your debts.

At Simple IVA we have a comprehensive understanding of the IVA process and what your creditors are looking for, so if we feel that you don’t meet the criteria then we wouldn’t suggest an IVA as a suitable debt solution for you. Find out if you qualify for an IVA here.