I want to get out of my IVA. I have only been in the IVA for a year but feel I was in a very low place last year and was pushed into it by an amazing call centre member. I want to deal with my creditors by myself. Is this possible to do without the IP making me bankrupt??
I think you need to speak to your IP company. You can fail your IVA but all interest and charges could be added on and you may end up owing more.
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
Your IP could make you bankrupt if you failed the IVA but this is uncommon. However it is rarely a good idea to do so but perhaps get independent advice from the CAB.
As mentioned above, you will find yourself in a worse position if you allow the IVA to fail. You will owe more that you did at the start and, even if the IP doesn't make you bankrupt, which is rare, your creditors would be at liberty to, if they felt it was worthwhile.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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
