IVA FAQ's

What happens if my circumstances change?

If you default on your obligations you break the terms of the IVA and the Supervisor may ultimately have to terminate the IVA. No-one benefits from this. Should your circumstances change during the term of the arrangement, creditors may agree to a variation of its terms if alternative proposals are considered viable. It will therefore be in your interests to keep the Supervisor informed of any problems that are likely to arise. If there is the possibility of viable alternative proposals, generally the sooner they are explored, the better.

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