Interim Order
 
It is not a legal requirement to take out an Interim Order if you are going to propose an IVA.

Your Insolvency Practitioner will decide with you whether this is necessary or not.

Normally it will only be done if one of your creditors is currently taking serious action against you � for example petitioning for your bankruptcy � which would not be in the best interests of all your creditors

An interim order is there for the protection of individuals who are seeking an IVA. This order protects them against any creditor who might be pursuinga bankruptcy order against them.

If you are facing a debt problem, you�re not legally obliged to get an interim order. However, it does make life easier and it should make the IVA process more straight forward.

The insolvency practitioner should be able to advise whether an interim order is a good idea and is necessary. It is generally only applicable to someone whose creditors are threatening to apply for a bankruptcy charge against them. This would only be to that one creditor�s advantage though. It would actually be to the detriment of the other creditors to whom you owe money.

Speak to a qualified insolvency practitioner to find out whether an interim order would be a good idea.

 
     

Most Frequently Asked Questions about IVA
What is an IVA?What is an IVA?
Pros and Cons of an IVAPros and Cons of an IVA
I do Qualify for an IVA - but is it better than bankruptcy?I do Qualify for an IVA - but is it better than bankruptcy?
What is an IVA going to cost?What is an IVA going to cost?
What is the IVA process like?What is the IVA process like?
Click here to read more FAQ about IVA
For more information see:
IVA pros and cons
 

 

 
Action Bar

IVA help ForumThe IVA Forum: Top 30 Hot Topics
 
Active Topics on IVA Forum
<t>New job credit card</t> (by: disneygal)
<t>Opening a bank account for a non-profit association</t> (by: elena546)
IVA Debts still on credit file (by: wakeywakey)
Quick q (by: Lahoretiger)
My time for annual review. (by: Lauren1995)
Full and final offer process (by: TallulahStar)
<t>Back pay award</t> (by: Tametinn1)
<t>PPI and my wifes half</t> (by: george729)
<t>Full and final and a settlement - difference?</t> (by: Cupcake08)
<t>PPI is not my money</t> (by: clare413)
Offer (by: Lahoretiger)
<t>Extra income after retiring</t> (by: wolvestone)
Full and final settlement info needed (by: Emmad8035)
Lump sum offer in 1st year. (by: Debtlife)
New IVA Questions (by: NiksIVA)
<t>Bounce back loan on an IVA</t> (by: paul636)
Creditfix changes mind (by: Diesel6976)
<t>PPI and a cancelled IVA</t> (by: neil629)
<t>Pension scheme payments</t> (by: tim595)
Recieved completion certificate (by: ashbock123)
<t>Redundancy pay</t> (by: michelle392)
<t>Assistance with IVA or DMP</t> (by: jennifer295)
<t>Lump sum to clear iva</t> (by: helen670)
<t>RX1 form and my partner</t> (by: louise657)
What do banks do once they get an iva request (by: Lahoretiger)
Step change iva or shell i contact creditors direct (by: Lahoretiger)
<t>Do I have to claim child maintenance?</t> (by: agusia)
Credit report updating (by: Flavour79)
Iva and nationality (by: Lahoretiger)
<t>Overtime during pandemic for NHS worker</t> (by: emily695)
Forum BrowseForum JoinForum Search

Free Debt Guides
FREE useful guides!




Debtor (you) Debt Collectors (or Bailiffs) Judge/Law Creditors (or loan sharks)Insolvency Practitioners  (aka IPs) (or wise owls!) IVA Advisors