What is the Process Involved when Offering an Early Settlement?

Any change to the original terms of your IVA proposal would be dealt with as a ‘Variation’ [1]. This will involve sending out a revised proposal to people you owe money to and holding a meeting to determine whether they agree to it.

If accepted you normally have 3 months to introduce the monies and once this is received your case will be passed to our Closures Team to begin their process of finalising your IVA [2] and paying people you owe money to the required dividend due to them.