I thought my iva had failed

[laleanne1]

4 years into my iva they have failed it, after paying 9000 into it they have terminated after i took a payment break which was agreed and then offered a full and final settlement and what bugs me the most its that the creditors i owed the least to rejected and terminated as me being in breach now they can chase for the full amount all i can say is thanks!!!!

[kallis3]

Have they actually failed it or just not accepted the full and final.

[laleanne1]

nope they have terminated my agreement saying im 15 months in arrers even though it took grant thornton from july to jan to sort out paperwork so got to figure my options out its just a waste

[laleanne1]

who would be the best company to go bankrupt with and does anyone know how much it would cost?

[kallis3]

You can do it yourself, the br assist firms will charge from a few hundred pounds on top of the £700 br fee.

I'm really sorry that your iva has had to end this way.

[laleanne1]

is there anyone who can help to point me in the right direction on what to do next?

[laleanne1]

just has a look at the costs to do it myself what do you do if you cant afford it? i really want to cry feel like ive wasted the past 4years

[orange]

why would they take so long to sort this for you and it dont seam right to fail you without trying to help you complete it ..good luck

[plasticdaft]

Why did GT allow you to get into such big arrears?

Also if a F&F was not accepted I see no reason why you couldnt just carry on paying monthly contributions.

I do think this situation is saveable.

Paul

[Gina.gu]

Hi, my iva was failed too afrer 3 years . My iva provider allowed us to make reduced paymenst way over the 15 per cent allowed withouth informing creditors for over a year as a result at the meeting when they got round to it my iva failed. Take some time to step back and decide what you want to do. We were given the option of making up the monies we owed and carrying the iva on, which I am sure you can do . We decided to go br but were rejected and in a way I am glad as we got another iva with dfd. Now we are in a full and final meeting on friday one year in to our new iva. I know its an awful place to be where you are now but think over all your options. Take each day as it comes. Good luck with whatever you decide to do

[laleanne1]

its just crap, i asked for 10 month payment break which was agreed 6 months into i asked if they would take payments rec'ed as full and final that was rejected then my payment break carried until it was up i then offered my bonus back in june to see if it complete early i was then told they would put the paper work together as i was then taken ill into hospital but still heard nothing when i got out in nov they told me they has just got the paper work together and will be set for a meeting in jan so from june to jan nothing has been done and it looks like it my fault ive not paid i think i need to complain but where will it get me ive ended up in more debt than when i started if would have known i would have gone bankrupt in the first place as have no assests but was advised iva was the best option

[plasticdaft]

A rep from GT posts on here so maybe we can help get some sense out of this. Can you afford to continue to make payments now?

Paul

[laleanne1]

not full amount but at least 150 a month and just checking my paperwork i have made 57 payments already

[KAYKAY]

laleanne1.... do try getting in touch with Karol from GT (she is our GT exprt on the forum). Her contact details are in the expert section of this website and if you mark "IVA Forum" in e-mail heading, I think she will treat your e-mail as a priority. Perhaps a discussion with Karol will assist you in your options.

[Skippy]

Karol has helped a lot of other posters so hopefully she'll be able to help here. Good luck, I hope you can sort something out x