Can someone tell me what happens if your IVA fails? Can you go bacwards and go back onto a debt management plan with the same company or another company, or is the next step the dreaded bankruptcy??????? xx
Yes you can revert back to a DMP with whatever company you choose.
You could also consider bankruptcy if you have no assets to protect.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
It really does depend upon the terms of your specific proposal - your IP may have no choice but to make you bankrupt if your IVA is an older or non-protocol version.
