IVA Examples - Completed IVAs

The following are examples of completed IVA cases. Currently; we have several IVAs per day successfully completing.

Linked IVAs finished early thanks to PPI reclaim

Our clients are a married couple in their 50's with linked IVAs. For several years our they relied on credit to meet living expenses. It got to the point where the required monthly repayments were unmanageable, so they obtained a consolidation loan in an effort to resolve the situation. A few months down the line they were struggling to meet the loan repayments as well as additional credit incurred and were back to square one. The owed £55,000 before they took action to solved the problem.

In 2007 they entered into an IVA with Harrington Brooks, with creditors accepting £34,330 to be paid in over a period of 60 months.

In 2011 the husband was certified as permanently unfit to work and as such they could no longer afford to make the agreed monthly IVA contributions.

Harrington Brooks put an offer to creditors of funds paid to date, including an award for miss-sold PPI which we had successfully pursued on their behalf. Their creditors agreed to accept. Overall they paid £25,809 into the arrangement and creditors agreed to write off the rest of debt. The arrangement ended up finishing 10 months eariler than the original 5 year term.