cancelling an IVA direct debit

tmcd01

PH1966 wrote: »

main problem is pay goes in there next week and can't stop it in time.
Think I have to bite the bullet this month and get a new account before the end of April.
Think it is the only way I can get away from these people.
Just wish I knew more at the time, there again hinshight is a wonderful thing and guess I wouldn't be in this position if I had it.
But I guess it must be the same for everyone, someone offers a way out and it seems the right thing to do and before you know it you are down a road trying to turn off. If I had looked at BR 18 months ago I would have been in a much better position not looking at a 9 month extension to my IVA due to a mic-calculation at the start.
The question is will it be my IP that starts proceedings or can I do it myself?

The failure of an IVA can take ages - some people on here have waited a year for the IP to fail it. They will write to you to confirm failure, until then dont pay them. If you miss a set amount of payments they must fail it under the terms in the agreement.(this is usually three payments) If you phone them and tell them you wish to fail the IVA they must fail it. I told them an extension to mine was not an option and stopped paying them. They issued the certificate within a month. Until then keep the money and save towards BR fees and for living expenses post BR.

Good luck.

Tim