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Have I been miss sold an IVA?

Last post Thu, Oct 29 2009, 2:46 PM by IVAW. 1 replies.
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  •  Thu, Oct 29 2009, 2:46 PM

    Re: Have I been miss sold an IVA?

    Hello Hueston

    Depends on why you went into an IVA.

    You will have chosen an IVA in preference to a bankruptcy because you had an asset to protect or your job prevented you from applying for a Bankruptcy Order or you are the director of a limited company. I presume that your IVA company explained that clearly to you at the beginning.

    If your situation had changed, it may be that a bankruptcy is now suitable for you. Perhaps your house is now in negative equity?

    If you took advice and explained your situation clearly (which I am sure you must have done) and you did not have a job or asset to protect and you were not a company director at the beginning you will have to draw your own conclusion as to the suitability of the advice given and the solution recommended.

    It seems to me that the situation may have changed to the degree that you are now unable to make your contributions, in which case you would have to ask yourself where the IVA companies motivation was/is.
    • Post Points: 5
  •  Thu, Oct 29 2009, 2:17 PM

    Have I been miss sold an IVA?

    2 years on my IVA has broken down, now they want me to go bankrupt!circumstances have not changed. why is it suitable now but not then?
    • Post Points: 20