Cccsva

skibadee

My IVA wth CCCSVA is about to fail.
Am I right in thinking that CCCSVA will not petition for my bankruptcy?

dubiousone

Hi skibadee. If you look at your IVA contract it will/should state how many missed payments constitute a failed IVA, The company may threaten BR on the contract if you fail the IVA but the impression given on the BR board over recent months is that they won't rush into making you BR, the reason being it will cost them a lot more to make you BR than you petitioning for BR yourself. If you want to go BR then in my unqualified opinion I suggest you pay for it yourself as you may wait months for them to make you BR. By all means keep missing the payments if you've already failed until they finally get round to making you BR and paying for it, but you will endure letters and calls from your creditors for months.

toshtec

the thing is if you do miss the payments then save the money until you have the fees to go BR after all 2 missed payments in my case was more than enough if I were to have gone down that route (£725) and I think the fees are only a couple of hundred google the costs, so even if the IVA company do not declare you ort want to declare you then you can do it yourself and ignore the screaming, it will soon stop as once you have petitioned you refere any and all creditors to the courts.

RAS

Hi CCCSVa are unlikely to scream as they are related to the debt charity. Ring them and ask and if you need to sae the £475 need for BR use the payments for that.