Have you already taken out an IVA which is failing, about to fail, or has failed
If you are struggling with your IVA try any of the following in order to save it, especially if it’s a few years in as it is in no-ones interest to fail at this point.
IVA about To Fail

  1. Your supervisor can without having to report to creditors, lower the payments as much as 15%, if you still do not have enough money to live on then ask your supervisor for a full financial review, you may need to insist on this
  2. Ask for a payment holiday especially if you are between jobs or have unexpected repairs to cars or home, your usual £50 contingency allowance or £1.66p per day will not cover everything.
  3. Your supervisor is being paid many thousands of pounds to administer this arrangement ask them to reduce their fees to help you, Insolvency Practitioners  are one of the highest paid in financial services, if creditors are taking less you are struggling there is no reason they cannot cut their costs.
  4. If you feel the IVA will fail its pointless continuing with it, the fees you are paying are best used to pay your bankruptcy costs which will bring the misery of being in debt to a conclusion, remember an IVA can fail a bankruptcy procedure cannot

IVA has failed

  1. If your IVA has failed ask your supervisor to use the monies you have paid to pay for your bankruptcy fees, its your money, they may well be reluctant to do this, however it should rank above their fees, remember you called this firm because you are in debt they have an obligation to use the money you paid them to be free from debt, if the IVA has failed it was either unaffordable or circumstances have prevailed which you are not responsible for.
  2. We have for many years helped clients in an IVA be free of the arrangement, and be free of debt, an IVA is a great tool in the correct circumstances mainly for people in business who can use the business to make the payments.

Call us now, speak with Alan or Daniel on 01782 825245, we do not pass your details to anyone and will not call you back unless you ask us to, others may hound you we will not.