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Individual Voluntary Arrangements (IVA's)
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- What is an IVA - Individual Voluntary Arrangement?
- How do I know an IVA is right for me?
- How does an IVA work?
- How is IVA Debt Advice Helpline different?
- How long does it take to set up an IVA and what is the process?
- How long does an IVA last?
- How much does an IVA cost?
- Will I ever have to go to court?
- Will my creditors still call me?
- What happens at the IVA creditors meeting?
- Can I clear all my debts with an IVA?
- Will I lose my home in an IVA?
- Will an IVA affect my business?
- What happens to my Credit Cards in an IVA?
- Will my IVA affect my bank account?
- What if my financial circumstances change during the IVA?
- What happens if I default on the terms of my IVA?
- Do I have to tell anyone I have an IVA?
- Can I share my IVA with my partner?
- How does an IVA affect my credit rating?
- I live with my parents – will the IVA result in them being blacklisted?
- Insolvency Act 1986 - Part VIII - IVA's
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257. Summoning of creditors' meeting
(1) Where it has been reported to the court under section 256 or 256A that a meeting of the debtor's creditors should be summoned, the nominee (or his replacement under section 256(3) or 256A(4) shall, unless the court otherwise directs, summon that meeting for the time, date and place proposed in his report.
(2) The persons to be summoned to the meeting are every creditor of the debtor of whose claim and address the person summoning the meeting is aware.
(3) For this purpose the creditors of a debtor who is an undischarged bankrupt include—
(a) every person who is a creditor of the bankrupt in respect of a bankruptcy debt, and
(b) every person who would be such a creditor if the bankruptcy had commenced on the day on which notice of the meeting is given.