Posted: Wed Apr 25, 2012 4:13 pm
Is it possible to let your iva fail and then sign up with a different company?
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Posted: Wed Apr 25, 2012 4:18 pm
Yes it is. I did it but I am sure am expert will answere for you shortly in more depth
Posted: Wed Apr 25, 2012 4:19 pm
Hi,
It is possible but why would you want to do that?
It is possible but why would you want to do that?
Posted: Wed Apr 25, 2012 4:20 pm
I would try everything possible before failing it as you will have to start again and go through everything again
Posted: Wed Apr 25, 2012 4:29 pm
I feel quite let down by my company at the moment. We have had a few teething problems since starting our iva last year but we seem to be fobbed off with creditors coming out on top. I fully understand that we got ourselves into this mess and would do everything we can to repay what we borrowed. We took out an iva to help our relationship and thought that the company was there to support us and advise as well as doing their best for the banks but it just doesn't feel like we have that support and all the work is for the bank. Feel very alone.
Posted: Wed Apr 25, 2012 4:34 pm
Hi
I can understand your concerns but the trouble with failing and starting again is that all the payments that you have made will be gobbled up in fees. Try to work with your company and agree a way forward.
Is your IVA still scheduled to run a total of five years and are your payments affordable ?
If you are finding it too stressful you could consider bankruptcy as an option
Regards
I can understand your concerns but the trouble with failing and starting again is that all the payments that you have made will be gobbled up in fees. Try to work with your company and agree a way forward.
Is your IVA still scheduled to run a total of five years and are your payments affordable ?
If you are finding it too stressful you could consider bankruptcy as an option
Regards
Posted: Wed Apr 25, 2012 4:35 pm
blue eyes...before making this decision, can i encourage you to arrange a face to face meeting with your IP and to see if their is some common ground that will allow you to work through the issues and continue in your current IVA.
To go back to square one again, would / could be deemed to be a waste of your time and your creditors may not agree to a new IVA or change the modifications or demand a greater return.
Please really think it through before jumping to this option.
To go back to square one again, would / could be deemed to be a waste of your time and your creditors may not agree to a new IVA or change the modifications or demand a greater return.
Please really think it through before jumping to this option.
Posted: Wed Apr 25, 2012 6:27 pm
Which company are you with blue eyes?
Posted: Wed Apr 25, 2012 11:32 pm
It is definitely possible - I have just got a similar case accepted which resulted from a failed IVA.
Posted: Thu Apr 26, 2012 8:44 am
I wonder if you are with the same company as us, we feel the same 
Posted: Thu Apr 26, 2012 9:57 am
It's awful when you feel despondant with the company representing you. I consider myself to be so lucky with my IP. I sincerely hope you can both get sorted by insisting on speaking directly to your IP and not a caseworker and hopefully iron out any issues there currently are and hopefully move forward to successful conclusion of the IVA. x