www.iva.co.uk

we have been in an IVA for nearly 2years,I have had a letter from the IVA council saying my IVA looks to be mis-sold,after contacting them I was called by uk bankruptcy and advised to stop the IVA and file for controled bankruptcy and that they would handle everything and also file for a Mis-sale and try for compensation against th I.P.I am being pushed by this company,but am not sure what is the best thing to do,can you advise,

Mike . Hi and welcome to the forum. If you put iva council in the search you will see a lot written on the subject.
My opinion, if your iva is running ok and you have no problems then why change anything. They are of the belief that anyone who does not have assets would have been better to have gone bankrupt. They nknow nothing of your iva they just got the info off the insolvency register.
Personally I would put the letter in the bin as we did with ours. Dont be pushed by this company they are in effect just looking for business. If you do have any problems discuss with your IP. I informed mine when the letter was sent as we had been warned bythem previously.




Ang

The iva council trawl the insolvency website for your details. They assume that anybody with no assets such as a house should declare bankruptcy.
All they do is "assist" you (for a fee) with declaring bankruptcy when in reality its easier and cheaper to do it yourself.

If i was you i would simply file the letter IN THE BIN.

You will find lots of other threads on this forum regarding the iva council.

If you are happy with the way your IVA is going then dont fix what isnt broke.

It seems that they are the best "mis-sellers" in the business!

If you've been in your IVA more than 2 years, don't even think about BR.

Your credit file will be impaired for another 6 years from the date of BR, so another 2 years for wait for your credit file to be fixed.

They will see that your IVA was going ok up to that point anyway and will take another 3 years payments through a Income Payment Order anyway.

So if you've been paying in for more than 2 years your going to be paying for more than 5 years in the end.

And you would have paid these vultures a fee for this privilege.

And if they by some miracle get compensation from the IP it will all go back to paying the Official Receiver !!!!

Ignore them.

I meant ignore the IVA council and not the posts on here - just in case someone got the wrong idea!

I'd inform your IP that you have received the letter so that they know that their clients are being targeted and other than that completely ignore the letter.