Aperture IVA moved to Jarvis Insolvency – What can I do

Aperture IVA moved to Jarvis Insolvency – What can I do

Aperture have announced in September 2020 that the management and supervision of their IVAs has now been taken over by a different company – Jarvis Insolvency.

Included in this article:

Already in an IVA and need help?

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What should you do if your IVA has moved from Aperture to Jarvis?

If the appropriate court order is granted, your IVA can be moved from one company to another. It happens when the company you are with decides to sell their IVA clients, perhaps because they plan to close their business or change what they do.

The situation is actually quite common as companies change. In April 2018 Harrington Brooks transferred their IVA clients to Freeman Jones after the business stopped trading. In August 2020, Vanguard transferred the management of their 6000 IVA clients to an organisation called Ebenegate.

If your IVA has been transferred from Aperture to Jarvis and you are happy there is no need to do anything. Simply continue to maintain your monthly payments as normal. When the anniversary of your Arrangement comes round, the annual review will be carried out by the new company.

Up to 25,000 Aperture IVA clients are likely to be affected by the change to Jarvis Insolvency.

What if you are unhappy with the change?

Although an IVA company can transfer your Arrangement to another firm (as has happened between Aperture and Jarvis), you can’t decide to change your IVA company yourself. Unfortunately, if you are unhappy for some reason you have limited options.

The best advise is always try your best to resolve any problems you have with the new company. They may have slightly different processes and ways of working. However the terms and conditions of your IVA remain the same.

Where you feel you are not making any progress, you have the option of raising a complaint. First you should do this direct to the Insolvency Practitioner responsible for your IVA. If you are not satisfied with the response you can then escalate to the Insolvency Service.

If you are so unhappy you have made a complaint, finding a way forward with your IVA company that you are satisfied with could be extremely difficult.

Can you cancel your IVA and go bankrupt?

You may have reached a point where you decide you no longer want to work with your IVA company. In this situation, you can cancel the Arrangement. However before you do so, you need to have a clear plan of what you will do next.

Very often, going bankrupt can be the next best option. This is particularly the case if you live in rented accommodation as you are unlikely to have anything to lose. Any ongoing monthly payment you have to make towards your debts is also likely to be far lower and will only last 3 years. If you have no surplus income you will not make any further payments at all.

The only time when bankruptcy may not be a viable option is if you are a home owner. In this situation remaining in your IVA could be the best option.

Do not stop paying your IVA until you have taken advise from us. We can explain the implications for you and what your options are going forward. Call us on 0800 011 4712.

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4 thoughts on “Aperture IVA moved to Jarvis Insolvency – What can I do

    Viktor says:

    Hi. My IVA has just been moved to Jarvis. I have no information about my payments have no profile and I get no invoice or any message form them about my payments. Are they thieves?

      Hi Viktor

      Jarvis are a legitimate IVA company. All Aperture IVAs were transferred to Jarvis in September 2020. There was nothing you could do about this.

      There is nothing you need to do. I am sure that Jarvis will contact you eventually to do a review. But until then, you should continue making your IVA payments as normal.

      If you are concerned and want to discuss your options, please don’t hesitate to give me a call. I can be reached on 0800 011 4712.

    Antony says:

    Hi,

    I have an Iva with aperture (now Jarvis) I am considering settling it early and using a company called sprout to pay them off and then just have a regular type loan to pay off to sprout. I have been making payments off the Iva for 24 months now so I need to wait another 6 months before sprout would be willing to go ahead.

    Do you think this is the best option? Or would going for bankruptcy be better? Whe I started the IVA I owed £20k and I am paying £85/mth

      Hi Antony

      Generally speaking I recommend against getting a loan to settle an IVA early. The reason for this is that overall the loan will normally cost you more to repay than if you were to simply remain in your IVA.

      That said there may be other reasons why paying more in a loan is still beneficial. For example if you know that your income is going to increase before the end of the IVA and so your payments will increase. Alternatively you may be aware of a windfall such as inheritance that may come your way and you want to settle the IVA before that happens.

      If you are simply struggling and looking for better options, if you are not a home owner I would say it is worth considering stopping your IVA and going bankrupt. If you are only paying £85/mth into your IVA, there is a very real chance that these would reduce to zero if you go bankrupt. If you would like to discuss your options don’t hesitate to contact me (0800 011 4712).

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