IVA Process | how to set up an IVA | clear debts over £15000
In this section of the E-insolvency website the IVA Process will be explained. If you are unsure about the IVA process or have any questions please call 0800 074 6918
Please also read the following IVA pages, which will explain on the IVA process:
It can take up to 6-8 weeks for the entire IVA process from start to finish.
The IVA Nominee Process
The first part of the IVA procedure us called " The Nominee Process". The Licenced Insolvency Practitioner is called the nominee, whist the IVA proposal is being prepared. This is because during this part of the IVA process the nominee is nominated to act on the debtor's behalf to draft and put forward the IVA.
The IVA Draughting Process
In this part of the IVA process the IVA proposal will be drawn up and so alot of information is required.
The IVA Distribution Process
Here the IVA is physically posted top all creditors.
The IVA Voting Process
The actual creditors are given some time to vote and then send back the paperwork.
The IVA Meeting Process
The IVA meeting is set for a certain date during normal business hours and at this point the creditors decide to vote to " accept" or "reject " or "approve with some changes (modifications)"
Please call 0800 074 6918 if you have any questions on the IVA process
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