The first step is to stop paying the IVA immediately and advise the IVA company in writing that you are exiting the IVA. You will receive a letter of default after three missed payments and a letter of termination two months later, which is required by the court. An Insolvency Practitioner is likely to lose money if you leave a IVA and might try to ‘re-sell’ you back in to the IVA. To avoid this, simply stop all contact once the letter has been sent. We will write to the IVA company on your behalf and sort this out for you. Taking people out of IVAs and placing them into the protection of bankruptcy is our speciality.