www.iva.co.uk

My son had his creditors meeting earlier this month and it was refused . Only one company voted against but it was his biggest debt so didn’t make the 75% so he’s received a letter saying it was refused .
Nothing else ? No contact ? No phone call no advise of how to proceed ,no nothing from the IP . The company is advantage car finance I believe, they have even had the car back so it makes it more annoying that they voted against .
Obviously he is going to call them and see how to move forward but can anyone give any advise of maybe his next steps ?
Many thanks for any advise

I am afraid that the quality of assistance your son will get from the IVA provider will depend on who that provider is. He should have been supplied with a copy of the minutes of the meeting -- Chairman's Report -- setting out who voted and how, along with their reasoning.

When your son originally approached the IVA provider was he advised as the the various options with the pros and cons of each ?

I would suggest a chat with StepChange to research alternatives --- Debt Relief Order, Debt Management Plan or even Bankruptcy -- all dependent on the debt levels and amounts available to repay each month. The StepChange website, or the Citizen's Advice website, will explain the different options.