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Debt Advice Forum Forums Debt Solutions IVA IVA Rejected

This topic contains 7 replies, has 4 voices, and was last updated by  Debt Consultancy Service 2 years, 8 months ago.

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    I’ve just been informed my IVA has been rejected because my majority creditor, Everyday Loans didn’t accept the proposal. I know they can do this but since they won’t freeze my interest or charges is there anything i can do. I don’t think it’s fair they can just refuse to let me sort my debts out and have done nothing to help me.

    Do i have grounds to complain or would going to another insolvency practitioners help?


    Hi Lady74,

    It’s at the creditors discretion whether to accept the IVA and unfortunately some always refuse the debt solution. As frustrating as it is for yourself and debt advisor’s like ourselves, i don’t believe there will be grounds to complain. It’s unlikely to help going to another ip but you could ask the reason for Everyday Loans rejecting it.

    Karen Johnstone
    Karen Johnstone

    Hi Lady74

    I would certainly check the reason for it being rejected but i have heard Everyday Loans rejected all IVA proposals. It does seem unreasonable in my opinion but a lot of people eventually enter bankruptcy and they get less in return. The solution works out worse for them and the person in debt but that is apparently their policy.

    Like i said, just double check that was the reason rather than something else which could be resolved and the company may have changed their policy by now.



    Hi Debt Advice Forum & Karen,

    I have spoke to my insolvency practitioners and they informed me no reason was given for rejecting it but said Everyday Loan do reject all IVA proposals.

    I’m probably going to also consider bankruptcy since i have no assets, a lot of debt and little income.

    I was cutting back to make the IVA work but if i’m going into bankruptcy i’ll just make sure i have even less money left over.

    It seems crazy this company would refuse a reasonable offer which gives them more money back but there’s nothing i can do.

    Karen Johnstone
    Karen Johnstone

    Yeah it’s definitely a strange and frustrating decision to reject every IVA proposal.

    Is the your IP  help you with the bankruptcy process and helping you enter it?

    Just be sure it’s the best solution since in some cases a debt management plan might be best, although that’s rare.



    Thanks karen, yeah the insolvency practitioners have advised bankruptcy because debt management would take too long.

    Thanks for all the help and advice you guys have gave me.

    Karen Johnstone
    Karen Johnstone

    Then it sounds like you’re in good hands, best of luck in future and if you need anything you know where to find us.


    Your situation sounds concerning and I would like to help you.
    I am a debt expert advisor; you can call me at my office – 01392 911000 and we can discuss this through and hopefully help your situation.


    Alternatively, if you would prefer to email me, at Debt Consultancy Service, you can by visiting http://www.debtconsultancyservice.co.uk and going to the contact us section or by direct email: Charles@debtconsultancyservice.co.uk.


    Looking forward to helping you,




    Debt Expert Advisor


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