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Cancelling an Iva - help

2 replies

HarryHarley24 · 31/01/2025 20:22

Hi all, please could anyone help me with this. Basically i enquired with step change for breathing space - just to give me time to re evaluate my financial situation & update some arrangements. However, following this , I received a call from a debt advisor from another company - offering advice initially. Before I knew it, I felt pretty much obliged to take on an IVA as it sounded like it would really help with things. I was then pressured into quickly signing proposal forms for a creditors meeting. Although I appreciate them helping, I did address a few concerns about a joint liability. It came about that my partner would only be eligible for half of this amount- I have since been made aware that he will actually be liable for all the amount still & so that alongside other things such as being added to the insolvency public record - I have had a change of mind. ( I also have no assets, not a homeowner & debt is less around 14000 but an extra amount for the joint liability, around 3000 ) Overall I’m now convinced the IVA won’t be my best option. However, I’ve made several attempts to communicate this to the company - requesting them to cancel the meeting with creditors next week. They have not replied a confirmation of this but sent a message encouraging me to continue with the IVA, making it sound to be in my best interests. Please advise, can they just do this meeting without me ? As I have said a few times to cancel it & explained why, apologised for inconvenience. I am currently signed off work & suffering bad anxiety & I just want some time to think. I could look into something in the future but right now iv got a feeling I would regret the IV down the line. Please advise. Many thanks.

OP posts:
PickledPurplePickle · 01/02/2025 04:52

What does their contract say about cancelling?

HarryHarley24 · 01/02/2025 17:32

PickledPurplePickle · 01/02/2025 04:52

What does their contract say about cancelling?

Hi, it mentioned 14 days cooling off period, however I had verbal confirmation that I could cancel at any time. Since emails to confirm I’d like to cancel, they will not reply with anything to say they accept that. It’s just mire messages from the agent to encourage me to continue with it speaking why it’s a good option for me.

OP posts:
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