3.4 IA regulation Flashcards
1
Q
What rules govern making decisions in an IVA?
A
Initial decision to approve - governed by IA & rules
Any procedure to obtain a variation - governed by terms of proposal
2
Q
What type of debtors are suitable for a protocol IVA?
A
▪ In receipt of regular income (employment or pension)
▪ Several lines of credit or types of debt
▪ Uncomplicated assets
3
Q
What types of debt unsuitable for a protocol IVA?
A
▪ Disputed debts
▪ Investment properties
▪ Possibility of full and final settlement
▪ Sole traders with trade debts
4
Q
A
5
Q
A
