www.iva.co.uk

i was told to get a IVA by a company after discussing my financial situation. I given them authorisation to attend creditors meeting but upon agreed at meeting they change terms and condition for payment from 60 months to 72 months. they send me letter in detail and asked me to sign which I never signed . they do not have any signed copy of agreemnt that I have agreed on their proposal. however I gave them by bank account detail and they have deducted 100 pounds each months. now I wish to know can i get out of IVA earlier or cancel the IVA because my name is on public register, which I did not know and I never signed the agreement.

There will be be enough of an audit trail to demonstrate that the IVA company had consent (whether partially or fully explicit).

The industry as a whole recognises it needs to do better at communications - my view is that means telling people more about what they need to hear than the "benefits" of going into an IVA.

You can withdraw from your IVA by not making 3 months payments and the IVA company will cancel it but you will then be back at square 1.

You would be best to get some advice from the CAB etc. before you do anything.

The extra time is because you either have NRAM as a creditor or simply because your monthly payment is so low.

As said, you can allow the IVA to fail, but then you would need to find some other way to deal with your creditors.

I would be surprised if your IP firm did not have your authority to proceed. If you did not sign the Chairman's Report there must be a record of the conversation discussing the modifications so ask for this. You could fail the IVA as the others have said.