If you cancel the IVA there is no guarantee that your creditors will agree to any repayment you offer them direct and your credit record will still be shot for the next 5 and a half years. They will also add back lost interest and start charging interest going forward, as well as be able to take whatever measures they deem fit to get their money repaid.
How much was your original debt ? How much are your monthly payments ? Do you own or rent ? How much has your mum got available ?
Who is onlineUsers browsing this forum: No registered users and 55 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location