I am currently in an IVA which I can no longer afford to pay. Bankruptcy is now my only option. Where do I go from here? I daren't do the whole BR alone and need help? Any advice would be gratefully received. Obviously can't afford to pay much for help. Any suggestions please?
it would be good to know how long you have been in your IVA and what the total debt was prior and monthly IVA payments.
There may be options in speaking to your IP regarding a fundamental situation change ( job, relationship change etc etc ) which when reviewed may mean that the creditors could accept a revised IVA contribution.
The IP is usually the best place to start because they will advise if there is a realsitic alternative.
If you can advise of the above then we can then advise on the likely best course of action and what you would need to do from there.
Paul Johns Assisted Bankruptcy Specialists Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK www.revivauk.com
Hi, I have been in my IVA for just over a year. I pay £150 a month.My debts are close to 14 grand. Have just received a letter today saying that I am in arrears of £600 with my rent from 2 years ago. I have been contacted by a company saying that I may have been mis-sold my IVA. I have explained my situation with them and they suggest I go BR but they want £1200 for their services. I don't want to lose my home and with paying my IVA I have no cash for myself at all. I have to borrow from my family every month just to get by? Its a viscious circle....... I just don't know what to do?? Sorry if this is bit rambling.
If the IVA is the right solution for you then you should stick with it. In truth your repayments are right at the lower end of IVA contributions so there is not a lot of leeway for you.
However a conversation with your IP first is definately the right way to start. They may be able to incorporate the rent arrears into the IVA - if it was a different landlord, or they may allow you to schedule a repayment for the arrears over time.
If after speaking with your IP you decide to review Br then this is the right site for you. £1200 is far too much to change from an IVA to Br when all the information for the Br forms is already on the IVA proposal.
If it comes to it there are experts here that can give free guidance
Paul Johns Assisted Bankruptcy Specialists Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK www.revivauk.com
HELP?
Posted - 24 November 2008 : 21:49:12
