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IVA : The Role Of The IVA Drafter ?
Anyone who has looked into an IVA, individual voluntary arrangement, as a solution to their debt problem, may have heard mention of 'The IVA Drafter'.
For those that are wondering what an IVA Drafter does, the team here at myIVA-Adviser.com has decided to give you a brief description, to help you become more familiar with the IVA process.
The IVA Drafter usually works for an insolvency practice.
The IVA Drafter is the person entrusted with drafting the IVA proposal, which will be passed to the creditors at the IVA Creditors Meeting.
The responsibility of drafting the IVA proposal is not to be underestimated, as the IVA proposal forms a very important part of the IVA process. The IVA proposal is the document from which the creditors, named in the IVA, will base their decision as to whether the IVA will be agreed or rejected.
The IVA Drafter will normally need to have a detailed conversation with the client who is proposing the Individual Voluntary Arrangement (IVA), to help them to understand the clients circumstances properly. Once the IVA Drafter has a clear understanding of the history and background of the client's debts, they will use this information, together with all the relevant documentation of client's creditors, to prepare the IVA proposal.
The draft IVA proposal is sent to the client for their approval and signature, before the creditors are sent the final IVA proposal, just in case there are any amendments needed.
Once the IVA Drafter has sent the IVA proposal to the creditors the IVA creditors meeting is arranged.
If you would like further Individual Voluntary Arrangement (IVA) information take this link.
If you want to discuss your circumstances with an Individual Voluntary Arrangement (IVA) specialist, then call our IVA helpline on 0800 088 7503 anytime to speak with one of our specialist Individual Voluntary Arrangement (IVA) consultants.
