SPOKE TO CCCS TODAY HOPING TO BEING ABLE TO GET AN IVA. BUT WAS TOLD THAT I DID NOT HAVE ENOUGH INCOM AFTER PRIORITY BILLS. ADVISED ABOUT GOING BANKRUPT STILL UNSURE. I LIVE IN RENTED ACCOMODATION AND WOULD NOT BE IN DANGER OF LOSING MY JOB.BUT FEELING GUILTY AND SCARED OF WHAT IS TO COME. ANY ADVISE OR THOUGHTS WOULD BE GREATFULL
There's no need to feel guilty about declaring BR. It also wouldn't do any harm to get a second opinion about your options as declaring BR is a big step.
Normally you need £200 disposable income once you have paid your bills so if you have less than this then an IVA is probably not an option.
Check your rental agreement to see if there is anything in it about being BR. Also get a copy of the rental agreement if you don't already have one. You can provide this to the OR once you declare BR to save them contacting your landlord.
Whatever you decide to do the best advice is to take your time and get plenty of advice.
I believe Northern Rock sometimes insist on a 6 yr IVA if the DI isn't as high as they would like.
Have a look on http://iva.co.uk/ as this is an IVA forum with lots of good advice. As Kallis says try Cleardebt and give them a call.
Whatever you do make sure you speak to several Insolvency Practitioners (IP) about your options and take your time in making the decision.
Melanie Giles (http://www.melaniegiles.com/ivaEnquiry.asp) is an IP that I would highly recommend and I had a chat with them when I first realised/accepted that I had financial problems. I decided that BR would be my best option but it may not be yours.
Edited by - gettingoutofdebt on 25 August 2009 18:39:15
thanks for all the advise. i will try other options first and i do have a copy of tenancy agreement to take if all else fails.i will keep you updated as things progress
ADVISED TO GO BANKRUPT
Posted - 25 August 2009 : 16:29:26
ANY ADVISE OR THOUGHTS WOULD BE GREATFULL
