Do they not take into account the money you have already paid into the IVA, then come after you for what is left owing. This has really confused me on previous blogs, as it sounds like once you enter into Bankruptcy, you forfeit all the payments you have already made to the Creditors and if this is the case, sounds like daylight robbery!
Any money in the IVA pot would be paid to your creditors and the outstanding balance listed in the bankruptcy. It is not a question of forfeiting the money as it has been repaid to your creditors.
