was IVA right for me

plshelpme_2

Is it right that I applied for IVA? I have tried claiming bank charges and PPI but if ever I get good results, all refunds will go to the IVA. I am just in my first year of my IVA. Please help me.

Charco_2

Depends on your situation!

An IVA is not a method of avoiding debts, it's a solution to make large debts more manageable and give you the opportunity to pay back a much as you can in a reasonable timescale without the life sentence that was probably facing you when you first spoke to your IP or signed the agreement.

Were you happy when you signed? Did you feel some sort of relief? Only you know if it was the right thing for you!

As for reclaiming charges, dont get too hung up on it, it's certainly no substitute for a debt solution - it's all very hit and miss anyway! The banks just play silly !!!!!!s over the whole thing and lead everybody around in a merry dance. The IVA is in place to deal with your debts now, if you still want to talk about reclaims in four years time THEN you can go for it!

If your IVA is unaffordable for you, then speak to your IP to see if you can renegotiate the repaments.