Ruthie
If an IVA fails, you the debtor will be faced with various choices:-
1 Could you offer a variation to creditors based upon your changed circumstances.
2 Should you enter bankruptcy (I have answered this for you in an earlier post)
3 Should you let the IVA be concluded and wait and see what happens. Creditors may simply leave you alone and write off the debts anyway.
4 Should you enter into a debt management plan.
So the answer to your question is that you are not necessarily forced into bankruptcy, and once an IVA is concluded no more fees are chargeable, although the Supervisor can pursue you for any fees which have been incurred by not paid. He/she can also stand as a creditor in any subsequent bankruptcy.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk