Started IVA process, want to pull out. Not happy with the IP

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alex584
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by alex584 » Thu Jan 18, 2018 4:18 am
I started iva process two days ago, send some papers to IP, but I change my mind and want to pull out. Not very happy with IP. What I must do before go to far.
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luluj
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by luluj » Thu Jan 18, 2018 5:06 am
Prior to the creditors meeting you are ok to withdraw. I would ring your IVA company and inform then asking for your paperwork to be returned to you - i would then follow up in writing.

You are free to approach other providers.
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Foggy
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by Foggy » Thu Jan 18, 2018 7:52 am
As Luluj says, you are not committed at this stage. Simply tell them you do not wish to go ahead. Might I ask what the problem is ?
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Lisa Thomas
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by Lisa Thomas » Thu Jan 18, 2018 9:41 am
You need to act quickly to cancel them and check their terms as you may be responsible for paying their costs for work done to date.
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alex584
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by alex584 » Thu Jan 18, 2018 7:14 pm
Foggy wrote:
As Luluj says, you are not committed at this stage. Simply tell them you do not wish to go ahead. Might I ask what the problem is ?

They give me a wrong advice I think. I was under pressure on the phone and all went very quickly. Later I do more research and I think they gave me wrong advice. I have 15k debt on credit cards, unemployed few years because of my health problems and probably will never work again as I'm 60 now and can't find any work. I believe debt relief is an option for me and not IVA. When I contact them they are still for IVA and could't cancel today as my advisor is on holiday and no one else can do anything.
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Foggy
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by Foggy » Thu Jan 18, 2018 7:20 pm
alex584 wrote:
Foggy wrote:
As Luluj says, you are not committed at this stage. Simply tell them you do not wish to go ahead. Might I ask what the problem is ?

They give me a wrong advice I think. I was under pressure on the phone and all went very quickly. Later I do more research and I think they gave me wrong advice. I have 15k debt on credit cards, unemployed few years because of my health problems and probably will never work again as I'm 60 now and can't find any work. I believe debt relief is an option for me and not IVA. When I contact them they are still for IVA and could't cancel today as my advisor is on holiday and no one else can do anything.


On the positive side -- if the advisor is on holiday and no-one else can do anything, they can't have done any work yet !! I would write to them by recorded delivery (keeping a copy). A DRO could work, as long as you meet all of the conditions and it is not for the firm to decide -- that is YOUR decision.
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Lisa Thomas
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by Lisa Thomas » Fri Jan 19, 2018 9:33 am
DRO or Bankruptcy may well be a better option, depending on your circumstances.
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