Possible Mis sold IVA

fatbelly

https://forums.moneysavingexpert.com/discussion/comment/81869220#Comment_81869220

Because you clearly can't afford the existing payments.

3 years is probably not long enough but these are your full options

https://debtcamel.co.uk/cant-afford-iva-payments/

Grumpelstiltskin

No you won't the IVA will takes many months to fail, don't worry about that at the moment.

OK Are you sure you have had yearly statements?

Sketcher72

I havent had any yearly statements no

ManyWays

Asking for the IVA to be completed "on the basis of the funds paid to date" is NOT failing the IVA, it is finishing it so the rest of the debts are wiped out.

However. as you have more debts, this probably isn't right for you. It may well be much better to stop paying, tell the IVA firm you want the debt to fail, and then to get a Debt Relief Order (or bankruptcy if you do not qualify for a DRO) as this would clear the other debts as well and get you a clean start.

Sketcher72

One thing that does concern me is if I do make a complaint to the IVA firm and i bring up the fact that they told me to lie about gambling transactions on my application, I'm complicit, as I signed the paperwork and I've read that lying to creditors has serious consequences for me, even though they said its fine to say they are something else. I feel so stupid.

So I should ask them to complete the iva on the basis of funds paid to date and see what they come back with?

ManyWays

I do not think a complaint is going to help apart from delaying things.

Sketcher72

So I should just ask them to complete it on the basis of funds paid to date and see what they cone back with?

ManyWays

How large are the debts that are not in the IVA?

Sketcher72

Around £1600 off the top if my head. I'm in payment plans to be fair and could probably manage those with some cutting back. When I started the iva it was 39k. I dont know what it is currently ive requested a statement. Ive also asked them if they will end it based on payments made to date.

I have another issue going on which I've approached a solicitor about, I was prescribed a drug as part of my MS treatment, it's a parkinsons drug to stop restless legs. I've never been inclined to gamble or behave compulsively in my life until a few years ago which is exactly when I was put on this drug and I've found research and warnings which show compulsive behaviour is a side effect.