what happens if i stop paying my IVA as I cant afford what they are asking for they will not reduce the rate and im finding it difficult to live and getting into more debt
Who are you with, how much was your original debt and what are you paying now ?
If you simply stop paying the IVA will fail after three missed payments. The creditors will add back all of the unpaid interest and possible late payment charges and will pursue you for the debt.
Do you own your own property ? Have you considered bankruptcy ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
