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Posted: Tue Jul 10, 2007 7:37 am
by jabell
If IVA was approved and on the early stage I decided to cancel my IVA agreement or contract is it possible.?
Posted: Tue Jul 10, 2007 8:48 am
by 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
Posted: Tue Jul 10, 2007 9:01 am
by 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
Posted: Thu Jul 12, 2007 12:03 pm
by 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
Posted: Thu Jul 12, 2007 1:05 pm
by 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