- Mon Oct 25, 2004 7:04 pm
The creditors should be informed regarding you failed IVA by whoever was your case officer with the IVA company. It will be up to the creds then to decide whether to go for bankruptcy.
Depending on how long ago it was when your IVA failed, it could be that your creditors have already been informed. It might just take anywhere from a few days to a few weeks before the creds start to contact you. As long as you explain when they ask the reasons the IVA failed, and inform them that you have no surplus, you should soon find out what action, if any, is taken.
Do you have any assets?