Im currently in an IVA the IVA company are taking a very large fee and not much is going to my creditors. Im finding it very difficult to keep up the re-payments on my IVA due to the rise in the cost of living, the wont change the IVA i have debts of £16,000 is bankruptcy my only way out
would really suggest you start with the basics and seriously review your Income and Expenditure and see how this reflects in the one lodged with the IVA company.
Then it is definately worth having a conversation with the company to discuss your position and see how they suggest you move forward.
In reality they may be able to review the situation with the creditors and put forward a MODIFICATION , which - if accepted - will vary the terms and repayments in the IVA.
Finally if you eventually elect to go Br then you will need a certificate / letter of termination from the IVA company to file with your statement of affairs.
In the first instance review your I & E and speak to the IP.
hope this helps
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com
is bankruptcy my only way out ?
Posted - 21 October 2008 : 17:39:34
