can you come out of an iva

kevsadie82

can you come out of an iva and go into a dmp? and will you get back the money you have paid into it?

CCCS_Sarah

Hi Kevsadie82,

I would recommend giving your Insolvency Practitioner a call and speaking to them. Is it that you are struggling?

kevsadie82

no its not that we're struggling but we were with debtmatters and they have now been taken over by grant thornton,who we think are a bit rubbish(to put it politely!) but we feel if we could get the money back that we have paid in that would pay off 3 debts and the remaining 2 would be interested in us paying them a monthly amount-that way we wont have an iva over our heads,hopefully our credit rating would gradually improve and our monthly payments would be less then they are now,and the 2 creditors would start getting their money now rather than waiting 4 years and they would get more than if we did it through an iva-hopefully everyones happy!!

malestrom07

I would suggest you have a chat with Grant Thornton, they are a very ethical company and I'm suprised to hear ou aren't happy. May I suggest you lay it on the line with them. Debt Matters were a joke and they are the cause of your problems, GT will have a job on their hands sorting out the mess they caused !

Sarah is right, speak to them and ask them for their advice, take care.

doelani

I agree with others you ned to speak to Grant Thornton, I have my IVA through them and have always found them more than helpful.

kevsadie82

well it took me about half an hour this morning just to talk to an actual person!! i will give it a try though thanks doelani and malestrom07 for your comments

Merlot

OP, are you being charged for your IVA, if so, change to CCCS or Payplan, they do not charge, look at Sarah's post for the link to CCCS, they are a debt charity - no-one should be paying anyone for setting up a IVA or DMP when there are free services available and very good ones too.

Merlot.x.

doelani

kevsadie82 wrote: »

well it took me about half an hour this morning just to talk to an actual person!! i will give it a try though thanks doelani and malestrom07 for your comments

Not sure which office is dealing with your IVA at GT mine is Belfast but once you know which IP is appointed to your case just ask to speak to somone in his team and once you get a name ask for them next time lol

Has worked for me for 3 years.

cfnc

Merlot wrote: »

OP, are you being charged for your IVA, if so, change to CCCS or Payplan, they do not charge, look at Sarah's post for the link to CCCS, they are a debt charity - no-one should be paying anyone for setting up a IVA or DMP when there are free services available and very good ones too.

Merlot.x.

all Iva's have fees, just the charity ones you mention have no upfront fees.

cfnc

kevsadie82

ours fees are included in the monthly payments

james32_uk

Only three ways you can end an IVA:
1) to declare yourself bankrupt,
2) a creditor in the IVA petitions for your bankrupcy,
3) you have a full and final payment accepted to clear the IVA.

All IPs charge substantial fees for an IVA (normally to come out of your monthly payments).