Can I cancel my IVA once I have entered into it ?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
Post Reply
 
 

Barbara.25

User avatar
Posts: 1
Joined: Mon Oct 10, 2016 11:01 am
Post by Barbara.25 » Mon Oct 10, 2016 11:01 am
Quote
Can I cancel my iva once I have entered into it ?
Top
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom
Post by Foggy » Mon Oct 10, 2016 11:12 am
Quote
It can be failed or terminated, but will remain on record for 6 years from the start.

Your creditors will then add back missed interest and possible late payment charges and your original debt will, no doubt, have increased. They will then look to other ways to recover the debts from you --- do you have a "Plan B"?

Might I ask why you are considering this drastic step ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Top
 
 

kallis3

User avatar
Forum Expert
Posts: 77167
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom
Post by kallis3 » Mon Oct 10, 2016 12:06 pm
Quote
Hi and welcome.

I agree with Foggy - why are you considering this and how long have you been in the IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
Top
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am
Post by Lisa Thomas » Mon Oct 10, 2016 1:06 pm
Quote
What are your reasons for wanting to terminate it?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
Top
Post Reply
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”