I've posted a couple of things on here recently & found everyone to be really great.
In an IVA for 2 years, being made redundant, IP won't accept lower payments so am thinking of going BR. I'm off to the CAB this morning to get some further advice on redundancy & BR.
So, yesterday I got a letter in the post from Financal Solutions in London. Now, I've never heard of them, yet they know I'm in an IVA & are asking if it's the right solution for me & would BR be better? I can't believe the timing of this letter! It's like they're reading my mind & its a little scary to be honest.
they say their first consultation is free & there is no obligation but I don't want to pay anyone to deal with my finances anymore. Can I go bankrupt myself or does my IP have to do it for me once I get my certificate of non-compliance? Is it difficult to go BR?
My redundancy money also won't be more than £1050. Will the BR take all of it?
I do think that BR is my best option because after April my income will be nothing until I sign on or get another job (most likely in Tesco at this rate so the pay won't be magic) !
My appointment with CAB is at 9.30 & then I'll be emailing my IP with my decision.
Heidi x [?]
My advice would be to seek a variation from your creditors for a 6 month payment break to allow you sufficient time to get a new job. If your IP won't agree to this threaten to expose his attitude to everyone on this site.
I would be very wary about firms such as Financial Solutions as they appear to be like the IVA Council type of business.
Certainly discuss with the CAB and see what they say. In the meantime would like to see a copy of the letter from Financial Solutions please send me one. You can get my details from clicking on my Avatar on the left.
Last edited by David Mond on Tue Mar 10, 2009 7:52 am, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
If you do decide that BR is the beset solution for you check the terms of your IVA - you may find that your IP has to bankrupt you if you have paid enough in the IVA.
If not, you can make yourself BR once you have received the cert of non-compliance. The forms can be completed online, and you need to make an appointment at your local county court.
I definitely agree that you should do it yourself. It will cost £495 court fees, and this company would charge you for their assistance and you would still have to pay the court fees.
If you do decide this is the solution for you, then we are here to assist you where we can.
Sharing from experiences of dealing with debt
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