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 Re10 Debt Advice Helpline on free phone 0800 169 1536