What is the effect of failure?

Issuing a Certificate of Termination brings the IVA to an end. As a result people you owe money to are no longer be bound by its terms and can pursue you directly for their remaining debt [1]. More importantly if you fail your IVA, you may find that bankruptcy [2] will become a more likely outcome.

If your situation changes for the worse and you can no longer keep up with your IVA payments, do not hesitate to contact our customer care team [3] immediately for advice and help.