www.iva.co.uk

Hi, My partner sadly passed away midterm in 5 year IVA. Had terminal illness at time of agreeing IVA and on several medications. Incapable of making complex decision. Was sold these arrangement as only way to deal with debts. I have now received the copy of terms and noticed inaccuracies in it regarding personal circumstances.

Quick background: Original debt of 25K. Around 8K paid with no payment missing. I have been told that for closure of IVA, full debt + 5K of company fee + 15% of IP fee ( I am assuming this means 15% of funds in estate)

Questions:
-Is it possible to cancel the IVA and deal with creditors directly on the basis that IVA was forcefully mis-sold and person had diminished capacity?
-I must inform bank and that will mean the payments to IVA will stop, will this lead to IVA failing?
-Where can I find a competent lawyer to deal with this matter? I have searched web and cannot find anyone specifically dealing with IVA's.
- Do I directly approach the IP as I have just spoken to the case manager in arranging company?

Thank you

You could ask that the IVA be closed down with payments made to date due to the circumstances, If it fails you will be back to owing the full amount to your creditors but you could set up a payment plan with a different firm and although it will take longer to pay off it should be better for you.

Can I ask which firm you are with?