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T O P I C R E V I E W
Dave29
Posted - 07 February 2010 : 20:39:15 I'm currently in an IVA for debts in excess of 80,000. I'm a serving soldier with just over a year remaining until my 22 years are up. My wife has just left me and I do not know if I can still afford my IVA payment once maintenance, etc starts. The IVA has been running since Mar 2008 at 785 per month and is due to end Mar 2011 when my lunp sum redundancy will be used as final settlement (approx 30,000). If I am unable to fulfill my obligations to the IVA will I be bankrupted and if so will I be forced to leave the Army?
5 L A T E S T R E P L I E S (Newest First)
Housing
Posted - 10 February 2010 : 10:25:37 Hi
The RBL are also fantastic and have a huge commitment to assist serving and ex members of the armed forces.
I have assited many hundreds of servicemen and women over the years through them
Good luck, Richard
quote:Originally posted by Richard P
Hi DAVE
also contact the SSSAFA, they have debt advisors and have no doubt dealt with other service personel who have been forced into BR
regards Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!)
Richard P
Posted - 09 February 2010 : 21:47:28 Hi DAVE
also contact the SSSAFA, they have debt advisors and have no doubt dealt with other service personel who have been forced into BR
regards Richard
gettingoutofdebt
Posted - 08 February 2010 : 07:38:17 Definitely speak to your IP. I don't think (but not 100% sure) that you can declare BR when you are in the forces.
The likelihood of a creditor making you BR is very slim but depending upon what your IP says you may want to have a chat with the Families Officer as well to see what advise they may have about handling this issue if the IVA cannot continue.
RHB
Posted - 08 February 2010 : 07:17:02 I doubt you would be made bankrupt. When you know whhat maintenance you need to pay then your IVA payment will probably get lowered accordingly.
debtinfo
Posted - 07 February 2010 : 20:43:38 Hi the first thing is to speak to your IP straight away, tell them what has changed. With such a large IVA payment there may be some room for manouver with your creditors
