My IVA company wants more money – Can You Help
Increased IVA Costs, What are my options? People are generally so fixed on getting relief from creditor phone calls and letters and the sheer pressure of being in debt that they don’t look properly at whether or not the IVA agreement they are entering is actually going to work in the long run. There is usually hope attached to circumstances improving and that when the time comes they will be able to manage the increased payment.
Hi. I’ve been living in the UK for 3 years now. I left some unpaid debts in Poland, which i tried to resolve by entering into an IVA in the UK. Unfortunately, they have increased IVA costs by 60% for the second year and I can’t afford it. Can you help me leave the IVA and go bankrupt?
Yes we can, but we need a bit more information about your circumstances so please call us on 01425 600129 when possible. You mentioned that they are looking for higher payments after the first year. You might be surprised at how often this happens and it is the very reason why so many people abandon their IVAs in favour of bankruptcy. What starts off as a payment of £90 quickly escalates to £170, leaving people in difficulty.
We will quickly determine whether you will be asked for a monthly payment in bankruptcy and start the process for leaving the IVA. It is often the case that there is no payment at all, or at the very worst, a greatly reduced one. We will also prepare a letter for you to send to the IVA company and prepare everything for the online bankruptcy application (you don’t have to attend court these days).
Bankruptcy UK has been helping people with insolvency since 1998 and has the experience to get you the right result every time. We will avoid jargon and confirm all discussions by email within 30 minutes. Call us for a chat about your circumstances on 01425 600129.