My existing IVA has failed - should I go bankrupt?
Once you have decided that bankruptcy is appropriate for you then you should stop making payments to your Supervisor and write to him to request that he issue a Certificate of Termination.
If he does not do this then you should request him to convene a meeting of creditors so that they may decide what steps the Supervisor must take to terminate the arrangement.
Some courts will not make a bankruptcy order whilst an IVA is in place so it is important to go through the above process.
Bankruptcy is a serious step to take, so it is important that you seek proper advice.
Getting in touch with an insolvency expert for free debt advice is as easy as picking up the phone. Call the Leeds Debt Advice Helpline on free phone 0800 169 1536
If you would like to speak to one of our Leeds Money Advisers directly please call 0113 237 9503 or call to book a face to face meeting with an advisor or enter your telephone number and contact details in the box below and we will call you back as soon as possible.