I’ve been in an IVA for 4 years but it’s going to fail … the variation meeting agreed to fail the iva and issue the termination notice but the supervisor has taken no further action… what is the most likely outcome?
When you exit an IVA prematurely, the individual creditors reserve the right to pursue you with a view to setting up separate payment plans. Contrary to popular belief, there has not been a steady flow of money going to the creditors from the outset, as the IVA company would have captured its fees from the first 20 payments. It might therefore be in your best interests to seek the protection of bankruptcy. Call us on 01425 600129 to discuss options.
Bankruptcy UK offers bankruptcy help across the board and will submit your application online. Court appearances for bankruptcy are no longer required. Feel free to call us on 01425 600129 for a chat about your circumstances.