How do I get out of the IVA I have applied for

Get expert opinion. This is the place for new questions to be posted.
19 posts Page 1 of 2

andy426

User avatar
Posts: 10
Joined: Tue Sep 04, 2018 9:44 am

Post by andy426 » Tue Sep 04, 2018 9:44 am
Hi on Saturday I applied for an Iva all the paperwork was sent electronically within seconds which I signed I was then called by the company's underwriters then I signed again I have changed my mind about doing the Iva can I get out of this ?

kallis3

User avatar
Forum Expert
Posts: 74122
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Sep 04, 2018 10:06 am
If you have not had a meeting, just contact your company and say you no longer wish to go ahead. Is there any reason why?
http://kallis3.blogs.iva.co.uk/
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.

andy426

User avatar
Posts: 10
Joined: Tue Sep 04, 2018 9:44 am

Post by andy426 » Tue Sep 04, 2018 10:10 am
kallis3 wrote:
If you have not had a meeting, just contact your company and say you no longer wish to go ahead. Is there any reason why?
I have done this they said it could take up to 72 hours is this right

kallis3

User avatar
Forum Expert
Posts: 74122
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Sep 04, 2018 10:19 am
I don't know which company you are using but get in touch now and say you are not interested anymore and you want it cancelling immediately. Again - is there any reason you don't want to go ahead?
http://kallis3.blogs.iva.co.uk/
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.

andy426

User avatar
Posts: 10
Joined: Tue Sep 04, 2018 9:44 am

Post by andy426 » Tue Sep 04, 2018 10:24 am
kallis3 wrote:
I don't know which company you are using but get in touch now and say you are not interested anymore and you want it cancelling immediately. Again - is there any reason you don't want to go ahead?
Just feel it’s not the right thing to do

andy426

User avatar
Posts: 10
Joined: Tue Sep 04, 2018 9:44 am

Post by andy426 » Tue Sep 04, 2018 10:24 am
andy426 wrote:
kallis3 wrote:
I don't know which company you are using but get in touch now and say you are not interested anymore and you want it cancelling immediately. Again - is there any reason you don't want to go ahead?
Just feel it’s not the right thing to do
I have emailed them should I ring them or wait

kallis3

User avatar
Forum Expert
Posts: 74122
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Sep 04, 2018 10:26 am
How much debt are you in? You could always think of a DMP or a DRO if you have no assets to protect.
http://kallis3.blogs.iva.co.uk/
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.

kallis3

User avatar
Forum Expert
Posts: 74122
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Sep 04, 2018 10:27 am
I would ring and email if you are sure you want to do this.
http://kallis3.blogs.iva.co.uk/
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.

andy426

User avatar
Posts: 10
Joined: Tue Sep 04, 2018 9:44 am

Post by andy426 » Tue Sep 04, 2018 10:55 am
kallis3 wrote:
I would ring and email if you are sure you want to do this.
I’ve done both now thanks for your help I have no assets my debt is over 30k

kallis3

User avatar
Forum Expert
Posts: 74122
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Sep 04, 2018 12:06 pm
You could also consider Bankruptcy if you feel you cannot cope with your debts.
http://kallis3.blogs.iva.co.uk/
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.

Lisa Thomas

User avatar
Industry Expert
Posts: 7261
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Tue Sep 04, 2018 2:32 pm
Yes you can cancel but bear in mind you may still have to pay some of the costs incurred to date, depending on the terms you agreed to.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

andy426

User avatar
Posts: 10
Joined: Tue Sep 04, 2018 9:44 am

Post by andy426 » Tue Sep 04, 2018 2:37 pm
Lisa Thomas wrote:
Yes you can cancel but bear in mind you may still have to pay some of the costs incurred to date, depending on the terms you agreed to.
Thanks for your help

andy426

User avatar
Posts: 10
Joined: Tue Sep 04, 2018 9:44 am

Post by andy426 » Tue Sep 04, 2018 2:48 pm
Lisa Thomas wrote:
Yes you can cancel but bear in mind you may still have to pay some of the costs incurred to date, depending on the terms you agreed to.
What sort of fees would I have to pay how much ?

Lisa Thomas

User avatar
Industry Expert
Posts: 7261
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Tue Sep 04, 2018 3:11 pm
As I said it depends on what terms you agreed to - you need to check any engagement letter/documents that you signed.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Foggy

User avatar
Forum Expert
Posts: 28119
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Sep 04, 2018 3:20 pm
Most firms do not charge at all if you are rejected or otherwise back out ... but some do and. as Lisa says. it will depend upon what you agreed to when engaging the firm and how much work they have actually done thus far.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/
19 posts Page 1 of 2
Return to “Ask IVA Forum and Industry experts”