Important announcement regarding Varden Nuttall
Varden Nuttall Limited (‘the Company’) was placed into Administration on 24 March 2016.
The Joint Administrators, Paul Boyle of Harrisons Business Recovery and Insolvency Limited and Ben Woolrych & Phil Pierce of FRP Advisory LLP, act as agents of the Company and without personal liability. Paul Boyle, Ben Woolrych and Phil Pierce are licensed by the Institute of Chartered Accountants of England and Wales, all Joint Administrators are bound by the Insolvency Code of Ethics.
If my income or expenditure change will my payments also change?
Not all of my creditors are listed on my chairman’s report. Are they all included?
How do I rebuild my credit rating?
What happens if my income reduces?
Is it true that I can end up paying more than I owe?
What happens if my Individual Voluntary Arrangement fails?
How will An IVA Affect My House?
How To Settle an IVA
Can I Get An IVA If I Am A Student
What is an Individual Voluntary Arrangement?
Why do I need to fill in an RX1 form?
Often yes. The idea of an IVA is that you pay as much as you can reasonably afford. Your proposal (and any modifications by creditors listed in the chairman's report) will clearly state how much you are expected to pay if your income increases, and any flexibility you may have with your monthly payments in case of emergencies. If you are in any doubt over how much you are required to pay, then you should immediately contact your Supervisor.
If your circumstances drastically change in a way that makes it impossible to continue under the agreed terms of the IVA, then your Supervisor may write to your creditors and request that they consider new affordable payments.