You are legally allowed to cancel your IVA and go bankrupt.
Your IVA may no longer be suitable for various reasons.
- Your income may have fallen meaning you can no longer afford the payments.
- Your income may have increased or you have received a windfall and paying more into your IVA does not make sense.
- You have simply decided that starting an IVA was the wrong decision all along.
We will assist you with all the steps involved with cancelling your IVA and then going bankrupt.
You will be advised by James Falla who has over 25 years experience of helping people with both IVAs and bankruptcy. We don’t operate a call centre. You get direct access to James. You can call him any time you have a question or need to discuss any aspect of your case.
Summary of our Cancel IVA and go Bankrupt service
If you have decided to cancel your IVA and go bankrupt, you don’t need to wait until your IVA is formally terminated. You can start the bankruptcy process straight away.
Our assistance service includes all of the following:
Help with cancelling your IVA
We will make sure you understand how to cancel your IVA (including the monthly payments) and when to do so. We will also advise you on what to say to your IVA company and, how to deal with your creditors if they contact you.
Advice about your bank account
Depending on the type of bank account you currently have, you might be able to continue using it. Alternatively you might have to open a new account before going bankrupt. We will advise you and assist with opening a new account if necessary.
Completion of your bankruptcy application form
We will go through your on-line application form together to ensure you provide the correct information before it is submitted.
One of the most important parts of the application is your income and expenses budget. This is because the information you give is used to determine whether you will have to make an ongoing payment towards your debt.
We will ensure all your figures are correct and that you are not asked to make a payment if you can’t afford to.
Preparation for your interview with the Official Receiver
After you go bankrupt, it is likely that you will have a telephone interview with the Official Receiver. We will prepare you for this making sure you know the types of questions you are likely to be asked and how to answer them.
Ongoing support while you are bankrupt
You will usually remain bankrupt for 12 months. During this time, your circumstances might change. We are available to advise you about what to do if your income goes up or down or you get a windfall. We will also assist with any additional questions that the Official Receiver might ask you.
Why choose IVA Expert?
Choosing our bankruptcy assistance service will mean you receive direct support from James Falla.
James has been advising people about both IVAs and bankruptcy for the past 20 years. From the very beginning he will help you understand the implications of stopping your IVA and what going bankrupt would mean for you and whether it is a sensible option.
James will be on hand to answer your questions at each stage of the process. He has worked with many people who have initially started an IVA but subsequently decided that going bankrupt would be better for them.
The clients that James has already work with praise him for his quick response to any queries or concerns, his patience and reassuring style. But don’t just take our word for it. Have a look at what some of the clients James has already worked with have to say:
Cost
We charge an upfront fee for our switch from IVA to Bankruptcy Service. This is in addition to the standard Government Bankruptcy application fee (currently £680) which you will also have to pay. Our fee is as follows:
Single person Bankruptcy Application: £750
Couple Bankruptcy Application: £900
An increase to the standard fee may be charged if you require a more in depth assistance. This may be the case if you are self employed, a home owner, or are currently residing outside of the UK.
How It Works
Advice
Get free, confidential advice about your situation
Explain what bankruptcy will mean for you
Help you decide whether this is the right solution
Preparation
Complete your bankruptcy application form
Prepare your income and expenses budget
Assistance
Assisting you with your dealings with the Official Receiver
Preparation for your telephone interview
Help to respond to any requests for information
Support
Support for you throughout the year you are bankrupt
Any questions during your bankruptcy answered
Assistance with any further queries from the Official Receiver
Completely FREE advice
Confidential conversations
Expert help always at hand
Start an IVA. Write off unaffordable debt and get legal protection for you and your home.
James, I wanted to take a moment to express my deepest gratitude for your invaluable support and guidance throughout the process of resolving my complex financial situation.
I cannot emphasize enough how much your professionalism and friendliness meant to me during this challenging time. Your willingness to listen attentively to my concerns and provide prompt, thorough responses to my inquiries alleviated much of the stress I was experiencing.
Your openness and transparency throughout the process were greatly appreciated and helped me feel reassured every step of the way. I wholeheartedly recommend your services to anyone facing similar challenges. Your support has made a significant difference in my life.
J B Mafa
February 18, 2025
James Falla was fantastic. From start to finish of my IVA he explained everything very clearly. Can’t thank him enough for what he did.
Hannah R
February 15, 2025
James Falla at IVA Expert was non judgemental to our situation. He was extremely knowledgeable and helpful. He put out minds at ease and was very honest each stop of the way.
Gav & Lisa
January 27, 2025
James has been absolutely brilliant, he really knows his stuff and has helped me in finding the best debt solution for my own personal circumstances.
I was in a very dark place before I found James, and he helped me see that there was hope and light at the end of the tunnel. He didn’t judge and doesn’t just read off a script! I don’t know where I would be now without him. A very heartfelt thank you and I would definitely recommend him.
Natalie B
November 25, 2024
James Falla is compassionate and understood the sensitivity of dealing with me.
James, I cannot thank you enough for your help and assistance with my IVA process always there for a chat and guidance where needed even if it was on your own time.
Thank you again for all your help and support.
J Barber
November 4, 2024
James, you were simply fantastic. You guided me through the IVA process perfectly. Your manner with me was impeccable and I could not have wanted more. From the very first meeting I made you aware of my condition which can affect my understanding and you took it upon yourself to make sure I understood the options that were available to me, but more importantly, which options were appropriate for me.
The feeling of relief that this chapter of worry is behind me is down, in the most part, to yourself – had you not been so approachable, I likely would not have felt comfortable discussing my situation with you. The services you offer, and more importantly you, have put at ease the most extended and worrisome years of my life. Thank you
Dan N
October 9, 2024
Looking to speak to an expert about Cancel IVA and go Bankrupt?
Our other IVA advice services
Start an IVA
- In depth advice and guidance
- Comprehensive income and expenses review
- Support through the process
Self Employed IVA
- Business revenue and expenses forecast
- Personal income and expenses review
- Support through the process
Mortgage after an IVA
- Guidance and information
- Planning for a mortgage
- Advice on timing and deposit
