I have terminated my IVA. Best option would be bankruptcy but would lose car essential for work.

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dawks79

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Post by dawks79 » Tue Jul 21, 2015 5:34 pm
I have terminated/cancelled my IVA with company that was dealing with my IVA due to poor service and be misled with the IVA in beginning. On the registered it has been put down as IVA failed. Can I find out what this company has put down the reason it has failed? Also I want to setup a new proposal but I am a bit conscious on information I have been given. The best option would ideally is to go bankrupt but back in Feb we had issue with car so had to get a car on finance which was agreed with the IVA supervisor at the time and the company had to get written authorisation for the company to approve the agreement. Now if I was to go bankrupt we would loose the car but can not do this as require the car for work purpose.
 
 

lifenoteasy

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Post by lifenoteasy » Tue Jul 21, 2015 5:47 pm
As far as I am aware an iva can only be failed or completed.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

Foggy

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Post by Foggy » Tue Jul 21, 2015 5:48 pm
The reasons for failure are not disclosed on the Register, however the situation might have been explained to your creditors, who would have to agree any new proposal.

I would suggest a chat with a few firms to find the best way forward.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Michael Peoples

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Post by Michael Peoples » Wed Jul 22, 2015 9:02 am
Speak to the HP company as they may allow you to continue paying the HP in bankruptcy. Rarely would the official receiver have a problem with this.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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