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‘The IVA Council’ has admitted to Credit Today that they were ‘foolish’ to advise people to stop making payments to their IVAs.

Jonathan Baker, The IVA Council’s (IVAC) auditor, said the IVAC sent out letters advising debtors not to make any further contributions to their IVA and not to contact their Insolvency Practitioner. He said “It was foolish on our behalf. We’ve taken advice.”

IVAC has also removed unauthorised government logos and changed the content on its website which was very similar to that of the official government body The Insolvency Service who has asked its lawyers to investigate.