Can i cancel IVA before creditors meeting?

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ann222

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Post by ann222 » Sun Apr 15, 2018 4:23 pm
I have signed proposal for iva for 8grand of debt. The creditors meeting is on the 30th April. I want to cancel this as i have read nothing but bad reviews about the company creditfix. I was upset about the debt and rushed into this. Can i cancel.

Foggy

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Post by Foggy » Sun Apr 15, 2018 4:28 pm
Yes, you are free to stop the process. Some firms might charge for work done to date in the event of cancellation, depending on the terms of engagement you agreed -- but most do not. To be frank an IVA might be a bit OTT for an £8k debt, depending on all your circumstances.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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luluj

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Post by luluj » Sun Apr 15, 2018 4:39 pm
Now is certainly the time to withdraw if you are not sure ... I would phone and cancel it then follow it up by email or registered post as evidence to ensure it does not go ahead.
As foggy suggests other debt solutions maybe more appropriate
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redboxtree

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Post by redboxtree » Mon Apr 16, 2018 6:30 am
£8k seems very little to go into an IVA and if you felt rushed into going this that is not a good sign.

If you can take some space and as the others have said way up all your options.

We were with Creditfix and whilst it worked out in the end (we were transferred to them) would we have chosen them - No.
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