I have over 10 debt with credit cards and unsecured loans and are in a IVA. Can these debts be challenged as unenforceble under the 1974 credit act? I had heard that the cca were not legaly binding and just wondered if being in an IVA should stop me finding out more?
Even if some of the debts could be shown to be unenforceable it would not help your situation. You would still have to pay the IVA and those creditors with enforceable agreements would get a higher dividend.
You would probably end up paying a load of money to people promising the Earth which would impact on the affordability of your IVA. You could find yourself with a failed IVA and plenty of enforceable debts so in my opinion you should let the IVA run its course.
Totally agree with Michael. Stick with your IVA and pay off as much as you can to your creditors.
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
Hi
I agree with Mel, this type of debt elimination has little success and the biggest provider of this in the UK, Cartell has just been struck off by the Ministry of Justice
Regards
