Have you been refused an IVA?

If you have been refused an IVA the most important thing to remember is don't panic.

Whilst it might seem like an absolute nightmare, there are still options available to you to help you deal with your debts and My IVA Adviser are specialists in helping people in your position find the solution they need.

It may even be that, with our help and advice, you could apply for another IVA.

Applying For Another IVA

Obviously, deciding what action to take after you've been refused an IVA will be heavily influenced by the underlying reason your creditors refused your IVA in the first place and what influence you have in being able to rectify the issues your creditors expressed.

It may seem strange but an IVA could easily be rejected if it has been proposed in the wrong way and you'd be surprised how many people find this to be the case.

If you believe the rejection you've experienced is as a result of an inaccurate proposal, then you should contact us immediately on 0800 088 7503. We will be able to restructure your IVA proposal correctly and represent it to your creditors for their reconsideration.

Furthermore, if we fail to overturn the original rejection, there will be no charge as we operate a No IVA = No Fee policy.

Your other options

If the thought of re-applying for an IVA doesn't appeal to you, or you feel you would be unable to address your creditors demands, you have at least two other available options.

  • Debt Management Plan:
    Debt Management can act as an immediate substitute for rejected IVAs. They provide an opportunity to take stock of the situation, whilst ensuring creditors are receiving reduced payments and, in most instances, creditors would be happy to accept a Debt Management Plan after they have recently refused an IVA. This technique can also be used to give more time to those wanting to prepare another IVA proposal.
  • Bankruptcy:
    Taking the bankruptcy option will remove the need to appease your creditors. If creditors' demands on you are too high or simply can't be met, then bankruptcy may be your solution. Whilst bankruptcy may threaten your assets and maybe your income, it will also remove the need to satisfy creditors' demands. Creditors relinquish control to the Official Receiver, who determines what you will be expected to repay without their influence.

Professional IVA Advice

My IVA Adviser are IVA specialists. We specialise in helping people enter into IVAs and, even if we say so ourselves, we're very at what we do. Our current IVA acceptance rate of 98% speaks for itself.

If you would like to have a chat, particularly if you'd like to discuss whether a second IVA proposal be accepted, please call 0800 088 7503.

Alternatively, please complete this form and one of the team here at My IVA Adviser will contact you at your preferred time.

Ask for Help

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In accordance with the Financial Conduct Authority's guidance, please follow this link if you would like to read a free guide about In Debt - Dealing with your creditors
To find out more about managing your money and getting free debt advice, visit Money Advice Service , an independent service set up to help people manage their money.

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