This is a company which searches the Insolvency Register and tries to persuade people in IVAs to use their services to go bankrupt for which they will charge a fee.

How would they know if you have been mis-sold your IVA?

Even if you do get your money back from the IVA company you will lose it again in bankruptcy.

If you don't have a problem with your IVA stick with it. Don't throw it all away now.

If you do have a problem, talk to your IP, they are there to help. If you have any questions about IVAs or bankruptcy by all means click on my name and email me .

Here is an extract from an OFT press release from last year.

"5 June 2008 The OFT is warning consumers to be careful before responding to unsolicited mailings which advise them to cancel existing individual voluntary arrangements (IVAs) and which suggest they opt for an alternative debt management solution such as bankruptcy instead.

Some such mailings sent out to consumers misleadingly suggest to recipients they may have been mis-sold the IVA and/or that bankruptcy may be more suitable for their circumstances when this may not be the case. These mailings are being targeted at vulnerable consumers in IVAs by companies who appear to have accessed their personal contact details from the public register of people in IVAs which the Insolvency Service is required by law to maintain.

The OFT has issued warnings to 12 businesses and has
given them four weeks to respond. They have been told to amend any misleading claims made in their IVA advertising and promotional material and to be more transparent about the possible implications for consumers if they do terminate an IVA agreement. The OFT will consider taking action against any business that fails to address our concerns. Such action could include taking steps to revoke consumer credit licences held by the business.

Ray Watson, OFT Director for Consumer Credit, said:

'Tackling companies who are engaging in unfair business practices by targeting vulnerable consumers with misleading advice and information, particularly if it leads to consumers becoming more over-indebted, is a key priority for the OFT. We expect any advice and/or information given to debtors to be in their best interests and it should include a full explanation of the implications of offers or advice.' "

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. If you're considering entering into an IVA, Debt Advice Foundation provides a free, confidential helpline and can advise you on whether you qualify. Click here to find out more.