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. More importantly if you fail your IVA, you may find that bankruptcy 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 immediately for advice and help.

               

http://www.debtfreedirect.co.uk/faq/effect-of-failure/