You can just stop paying your IVA and eventually it will fail. However try to communicate with your IP and sort out the reason for you wanting to come out of your current IVA.
If your IVA fails all the money paid in will go in fees and nothing off your actual debt so do think carefully
Please think twice before failing your IVA. I struggled with my own IVA with changes in my incoming and outgoing but I know without it I would still be in a lot of debt today. It's hard but worth it..At least you have the first 12 months out of the way? 4 years better then 5.
Hi, have you spoken to your IP and are 100% sure you want to come out of it? As others say you're a fifth of the way in now so do consider all your options of solving whatever it is you're not happy with in the first instance. However, if after all consideration and thought you can just stop paying.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.