Posted: Tue Aug 24, 2010 4:20 pm
Hi there,
I wonder if anyone can advise me. I entered into an IVA just over 4 years ago. When it was set up i was left with very little money to live on so a friend helped me out, it was very depressing. Anyway after a year the IVA company didnt chase me to update my details so i didnt contact them, i ended up owing the friend a lot of money so was paying him back month by month. Anyway for 3 years the IVA company never contacted me, although i did move address and didnt update my address with them, although they still have my phone number. In the last year they have left a few voicemail messages to contact them but i am scared to as they will just take more money off me and i will be back to square one of being left with too little money to live off.
My question is, what happens at the end of an IVA if you have never updated your details with them and never declared any pay rises?
I also believe i was give the wrong advice as on hindsight i think i should have declared bancruptcy as i ended up owing more than 3 times my annual salary.
I wonder if anyone can advise me. I entered into an IVA just over 4 years ago. When it was set up i was left with very little money to live on so a friend helped me out, it was very depressing. Anyway after a year the IVA company didnt chase me to update my details so i didnt contact them, i ended up owing the friend a lot of money so was paying him back month by month. Anyway for 3 years the IVA company never contacted me, although i did move address and didnt update my address with them, although they still have my phone number. In the last year they have left a few voicemail messages to contact them but i am scared to as they will just take more money off me and i will be back to square one of being left with too little money to live off.
My question is, what happens at the end of an IVA if you have never updated your details with them and never declared any pay rises?
I also believe i was give the wrong advice as on hindsight i think i should have declared bancruptcy as i ended up owing more than 3 times my annual salary.