The ombudsman is far from toothless -- but has no jurisdiction over IVA's.
There is every chance that your IVA has failed due to your lack of payments, but it will remain on your credit files until the 6th anniversary, unless you can get the courts to annul it, which could prove difficult and costly.
Clive.06 wrote:I have an IVA. I believe that I was not offered the best advice as debts close to £70k with variable income at the time meant bankruptcy would have been the better option. I have not paid a penny to the IVA company for over a year as I was again disputing their figures and still receiving letters from creditors, giving weight to my argument with them that they had not done anything other than pocket my first few months payments themselves and done nothing for creditors. As far as I’m concerned this company (strangely now operating under a different name) are crooks. I did complain to the ombudsman but they are as toothless as all ‘watchdogs’ are. I want the IVA gone, they’ve pocketed around £6.5 k of PPI refunds & not told the creditors, that PPI money is all they are going to get unless they can provide genuine proof & figures that the creditors are being fed before they are
You need to complain to the Gaeway, not the Ombudsman if you feel you have a genuine complaint but this might be pointless if our IP firm has gone bust - who was it?
https://www.gov.uk/complain-about-insol ... actitioner
The IVA advisors should normally weigh up the options and the reasons why an IVA was felt to be more suitable than BKY when they initially write to you - did they do that?
They will also report to creditors once a year or upon closure of the IVA.
Bear in mind if you go Bankrupt you may have to pay income contributions for 3 years.
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