www.iva.co.uk

Posted: **Fri May 11, 2012 9:22 pm**

My IVA has been terminated after 4.5 years. Advice please

Posted: **Fri May 11, 2012 9:24 pm**

Hi and welcome to the forum. Have you bee experiencing problems with your IVA for it to be terminated?

Posted: **Fri May 11, 2012 9:27 pm**

Sorry to hear your news...what is e reason for the termination ? Have you discussed this in full with your IP to see if there is anything that can be done...seems such a shame after 4.5 years of hard work to repay your creditors.

Posted: **Sat May 12, 2012 12:02 am**

In between jobs for 2 months hence got behind payments.I informed them about the change in my circumstances.I now have a 5 year job.I feel duped

Posted: **Sat May 12, 2012 12:10 am**

Hi Melanie, who is your IVA company and how do you know the IVA has been terminated - do you mean failed?

I agree, on the surface this seems harsh. Normally, your IP would either ask for creditors to accept payment to date and finalise the IVA or allow you to take a break to enable you to find employment.

Posted: **Sat May 12, 2012 12:52 am**

I think you have good reason to ask for a full explanation as to why the IVA was terminated. Normally you can take a break if you have lost your job.

Have you missed any other payments along the way?

Posted: **Sat May 12, 2012 7:53 am**

I moved to the south for my new job and had an incease of my rent.I informed them along the way.What they said was I exceeded the 3 month limit.
Melanie

Posted: **Sat May 12, 2012 9:23 am**

Which company are you with Melanie? Is there anyway they will let you resume payments? It seems a shame for it to fail now.

Posted: **Sat May 12, 2012 10:36 am**

freeman jones

Posted: **Sat May 12, 2012 10:40 am**

Speak to them on Monday - I'm sure something can be salvaged here.

Posted: **Sat May 12, 2012 11:34 am**

I have already tried anr they do not want to know

Posted: **Sat May 12, 2012 11:38 am**

Have you spoken directly to the IP rather than the office staff? You can email them directly via this link:

http://www.insolvencydirect.bis.gov.uk/fip1/

Posted: **Sat May 12, 2012 12:19 pm**

I have always thought that if you are in breach by missing three months payments, you have the opportunity to rectify things before the iva is failed. Have you checked your proposal to see how a breach is treated? It would be a good idea to contact your IP directly as you can often get a different answer to that given by their team. Good luck x

Posted: **Sat May 12, 2012 2:41 pm**

Hi

After such along time of paying I would go back to your IP directly to see if they can carry on with your IVA, unless it has been formally terminated you are in with a chance

Good luck

Posted: **Sat May 12, 2012 2:55 pm**

I know we dont know the full facts here but I wonder how many people get shafted like this. Even if you were running 12 months behind Ip's seem to have no problem extending things to allow ppi claims to be settled before discharge so whats the problem with going more than 3 payments behind.

So in this case the IP/IVA firm has made a fortune and the debtor is thrown back to the sharks,with no real recourse over their IVA firm!!!

That would put me off going near an IVA!!

Melanie can you confirm how many payments you have actually made in the 54 months(4 1/2 years)? How many warnings have you been given regarding arrears?

Paul