If you want to have your iva cancelled then you would need to allow it to fail. Your credit record would remain showing the iva for the full six years and you would be liable for all the debt plus interest.
Many self employed are in IVA's with no issues of fraud. Regarding creditors contact during the setting up of an IVA -- many do pester you --- the IVA takes a while to get through the system, and before the meeting they can do as they wish, though many will put a hold on accounts.
Now on the overtime front, you are self employed right, so get your accountant to make the figures what you need to keep the cash, that's what you are paying them for, and that's above board as well.
I had a number of debts however they were all manageable apart from my hmrc debt on the terms they were insisting. The debt accrued by going through exceptionally bad happenings that almost rolled one after the other over four years, that they were aware of, that I had asked them to investigate for their surety of accurateness. Hmrc were insisting the total debt had to be repaid before my next return, which came to £250 pw, which I could not afford at that time because my fluctuating taxi income was going through a baron period, but now, only three weeks forward and into summer season, has recovered. Hmrc wouldn't accept anything less than the 250 pw, and on the morning of the creditors meeting I explicitly asked them for any way to avoid perusing the Iva of which they responded total full immediate payment. The creditors meeting then went ahead, got agreed. My Iva is going to return them £600 per year (of income proposal they have no idea will increase). They wanted £12000 from me in 7 months, but accept £3000 over five years if in conjunction with my personal honour destroyed. I am incensed of their decision that seems to give priority of my destruction than recovery of monies. It was hmrc inflexibility that forced me to seek this Iva. I blame hmrc entirely. What can I do about it? Whether helping with Iva revoke, or separately action against hmrc. I'm willing to go to court against them self representing, worse case I can only lose.
Did they actually accept, or were they, themselves, forced to accept by being outvoted by other creditors ?
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