cancelling IVA in the early stage

[jabell]

If IVA was approved and on the early stage I decided to cancel my IVA agreement or contract is it possible.?

[tracy.h]

Hi jabell
Welcome to the forum,from experience if you have signed your iva agreement then it is a legally binding document.
Why have you changed your mind,and have you made any payments since agreeing your iva.


Tracy

[MelanieGiles]

If the IVA has been accepted by creditors then you are bound by its terms. Did you thoroughly think throught the options, and receive proper advice about the alternatives, before you signed the documents?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Adam Davies]

Hi
You can stop paying into an IVA at any time and generally once you have missed three payments your supervisor will fail your IVA and you will be back to square one.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Oliver]

Andy is correct and at that point one of your creditors may petition for your bankruptcy.

Are you in an IVA and feel that it is not working out for you?!!

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp