What do these letters look like?
Here's a typical example of what a misleading letter from one of these companies looks like:
How did this company get my details?
Details of all IVAs are added to the Individual Insolvency Register. This is a public record and anyone can search the register free of charge.
If your IVA has been approved, the register will show your name, address and date of birth, and details of the Insolvency Practitioner who is supervising your IVA. Some companies use this information to send junk mail to anyone who is on an IVA. They may try to persuade you to cancel the IVA and start a plan with them instead – for a fee.
Although these letters are rare, they can be confusing and upsetting. They often give misleading information about IVAs, for example claiming that your home or pension is at risk or that your IVA was ‘mis-sold’.
Remember we’ve recommended an IVA for you because it’s the best possible debt solution based on your individual circumstances. A company sending you these kinds of letters doesn’t know anything about your finances or your debts.
If you receive a letter like this, don’t stop your IVA payments. Give us a call on 0800 197 1713 and we’re happy to answer any questions or worries you might have.