Variation
An agreed or authorised change to the terms of a contract, guarantee, loan, IVA, CVA or other arrangement.
Related terms
-
IVA variation
An agreed change to the terms of an existing IVA, usually requiring creditor approval where the proposal or rules require it.
-
Loan restructuring
Changing the terms of a loan to make repayment more workable, for example by extending the term, changing instalments or revising security.
-
Payment proposal
An offer setting out how a debtor proposes to pay or settle a debt, including amount, timing and any conditions.
What’s your next step?
Get in touch with us at Bell & Company today to see how we can help