I have been in an IVA with Payplan since 2006 and pay £210 a month for a debt of £33,000. Anyway I was in a good job which I lost, my relationship broke down and now I am in a much lower paid job. I am finding it hard to live and I have been diagnosed as bipolar.
Heres where I am a ***k as I did not disclose to the IVA that I had a credit card with Barclaycard and now the debt with them has run up to £7,000 and I am paying off as much as I can but its not shifting. I am eating bread to try and save money but the amount stays the same or is going higher. I have cancelled the payment protection on the card.
Basically I have the IVA and neglected to tell them of the credit card i still have which i owe £7000 to. I have now told Payplan of this credit card and they have failed the IVA and sent me the certificate.
Now I cannot afford the minimum repayment on this credit card which with one missed payment is £350 and I dont know whether to send the credit card a token payment with a letter - bearing in mind they have no idea of the IVA in the first place.
So BR or try for an IVA with another company and start again? I work in social housing and I am worried how a BR might affect my job if they found out but then they could ultimately wipe out the debt and its a clean state?
I am now getting phone messages on the hour from Barclaycard asking me to contact them regarding the outstanding amount - should I send a token payment even though it looks like BR ? I really dont know what to do.
Can I get another IVA and include the Barclaycard debt or go for BR???
if you dont mind me asking why did you not inform the IVA company of your credit card when you applied for the IVA? It would have been in your best interest to include everything so that your iva could be successful. I am sure an expert will be able to help you with all the optons avaliable to you
Failed IVA
Posted - 27 January 2010 : 21:30:22
