www.iva.co.uk

Im in an IVA with payplan but struggling with the monthly repayments. Ive also made an offer to pay off the IVA but they constantly want so much information from me. Im losing heart and want to break off the arrangements is that possible and what will the consequences be if l do?

If you fail the IVA the creditors will add back all the lost interest and, possibly, late payment charges. They will then be free to pursue you as they deem fit. If you have a house they might consider securing the debt on that or, possibly, forcing bankruptcy.

The iva is a pure 'silver bullet' against these WW bad banks so think carefully before discarding it.
The brits are lucky as everywhere else on the planet there is only Bankrupcy