Is is easier to get IVAs approved with collection agencies than with original creditors?
I.e. leave 3 months of no payments so debts get defaulted and sold on before you propose an IVA?
It's not usual for them to be sold on immediately. If you default without doing a repayment plan of some sort it will still reflect badly on your credit record.
You need to decide which route to go down and speak to a couple of companies for professional advice.
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
As Kallis says some loans are not sold on until the final throes of an IVA, if at all. Add to this that some collection agencies who purchase loans can be quite aggressive and I would say it was a risky strategy.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
