Experts in mis-sold IVA claims
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Were you mis-sold your IVA?
Following a government lead review of the Individual Voluntary Arrangement market, it became apparent a number of individuals were incorrectly advised to enter in to an IVA when there were other more appropriate ways to deal with debt.
If any of the following apply to you, please contact us to see how we can help:
- You had no assets at the time i.e. you didn’t own a house or expensive car.
- You were told that the IVA was your only option and not given any other options.
- You had debts of less than £20,000 or £30,000 if you entered in to an IVA after July 2021
- Some of your information was changed by the people you were dealing with i.e. they increased your income or reduced your expenditure
- You were told it was a government backed scheme
- All the IVA fees and expenses were not explained to you
- You are struggling to make your IVA payments
- You had a minimal surplus income.
There are many other circumstances where an IVA may not be the most appropriate route and we would be happy to discuss individual circumstances.
About Us
- We are a specialist firm with over 30 years’ experience in insolvency.
- We are dedicated to assisting our clients.
- We have already reviewed a number of IVA documents where there were serious concerns.
- We can review your IVA and documentation for FREE.
- If appropriate we can arrange to connect you with a lawyer with specialists’ knowledge of bringing this sort of claims.
- We will assist you with all negotiations with your current IVA provider.
What we will do for you
- Review your IVA circumstances for free.
- Provide you with our recommendations.
- Look to connect you to lawyers to take matters forward.
- Pursue claim against the Supervisor.
- Look to recover monies paid to your IVA.
- We can call you for a FREE initial consultation.
FAQs
All personal insolvencies are a matter of public record. There is a register kept called the individual insolvency register. www.insolvencydirect.bis.gov.uk/eiir/ This register is online and anyone can access the information.
In short, no, being in arrears would not automatically stop you from making a claim for a mis sold IVA. It also highlights that the IVA may not have been the best solution for you, if you are struggling to make the IVA payments
Again, this could be evidence of IVA mis selling. You should have been provided with details of all the available options such as bankruptcy or a debt relief order. You should have been informed why the IVA was the best solution for you.
What stigma? Depending on your occupation or individual circumstances bankruptcy doesn’t carry any more stigma than an IVA or a debt relief order.
We will ask you to forward us a copy of your proposals. Don’t worry if you do not have them anymore, as your Supervisor is required to send you a copy if you request them. We then draw on our decades of experience to review your proposals. We look at the circumstances at the time you entered into your individual voluntary arrangement. From this we provide you with our opinion as to whether or not an IVA was the best way to deal with your debts. If there were other, cheaper and more suitable options available, we will tell you this.
Following the review of your IVA as described above you will be informed of our opinion on an IVA being mis sold. Following this it is your choice what you would like us to do next? If you would like to progress the matter, we can connect you with a firm of solicitors who are experts in bringing claims like these for mis selling. Or you are of course able to instruct your own solicitors. Until matters have been resolved you must keep up with the terms of your individual voluntary arrangement.
If you have any further questions regarding IVA mis-selling, please do not hesitate to contact us at help@msiva.co.uk
