in last year iva has really affected me as i couldn't open account for my brownie unit or get my car insurance on finance because of it, i just got new credit report and shows i only owe £1500 could i cancel my iva and pay this on my own or could i still have hidden debt that my report has not shown me
In short, failing the IVA is not something I would recommend.
Incidentally -- there are three credfit reference agencies. They do not all show the same creditors .. some crediors do not report to all three (some do not report to any of them ! ).
When I was thinking of cancelling - none of the maths added up very well in every scenario of coming out of the IVA early. In my case I would have still owed the same monies as when I started !! I would look for a short term solution till things get better. Being in the IVA was the hardest thing I've ever done - really hard, really testing - but the best thing I've ever done....As hard as it was... Hang in there.
You say you have £1,500 left to pay - is this the total of your creditors of the amount of contributions you are due to pay back over the remaining term?
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