Question for Melanie Giles or any of her staff

[worried9876]

MikeyM - please elaborate

[worried9876]

GilliB - I will take on board your point and try and feel more loved

[MikeyM]

ultimately I want a quiet life

Bit of an odd way to approach this aim

[GilliB]

Bless you worried9876. Take care. x

[MikeyM]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by worried9876

MikeyM - please elaborate

Don't need to. You are doing an excellent job yourself

[worried9876]

MikeM.

Is it?

I ran up large amount of debt in my 20's which i am not proud of.

My partner fell pregnant over 3 years ago, this was the point i decided to sort my life out for want of a better word.

I looked for the various solutions and found an IVA was the best way forward from a moral point of view, ok not the best solution as that would be to pay my original debts back in full how ever i feared now my life was not just about me it was about a young child to be and I decided to go down the route of an IVA.

Now for 2.5 years i paid the IVA, travelling over 4 hours a day and in total being out the house 60 hours a week. Did i moan or not pay my IVA, no.

Now I have been made redundant, i have had no luck getting a job and have a job search diary as long as many arms put together in a long line!!

I am finding it very hard to find work and well paid work at that.

I asked my IVA company 3 months ago if a F&F would be a good option as i felt it would be from my research and because of the situation of companies paying less due to the economy collapse.

Has that simple request been easy, well no and now i find myself in a battle to not only find a job but to offer my creditors money...

So when i say i want a quiet life, i simple do, i want to direct all my efforts into finding employment. Do i want the stress of this of course i do not.

I hope that helps explain what i mean by quiet life.

[worried9876]

MikeyM - i am not sure your posts are constructive.

I see you are happy and i am glad for you, I am not sure what you will gain from these types of posts. I'm sure you will be looked after by your IVA company regardless.

[worried9876]

MikeyM - Its funny you should mention that.

Over the course of the day i have gone from feeling really terrified. this is when i opened a letter this morning of a proposal on route to my creditors to now. I now feel calm and have a clear plan of the way forward.

Speaking to yourself and others has allowed me to construct my thoughts and look forward oppose to run around in headless chicken mode worrying about the worst case scenario. Creditors petition for my bankruptcy, bankruptcy awarded, myself, partner and two children 1 and 3 sent onto the streets.

I'm not sure if you have children but the thought of that happening terrifies me and is made even worse as i don't feel i am to blame.

[Niobe]

worried - you would not be sent out onto the streets. Your home is in negative equity from what I can remember from earlier posts so the OR would leave you alone for at least 2 year and 3 months before looking at things again.

In the interim, if the worst came to the worst, you could look at trying to rent somewhere? Any shortfall would be taken up with a BR and you may well be subject to an IPA for three years so would still be paying back money to your creditors.

Be aware that I am not taking sides here, just stating what I believe to be fact.

[worried9876]

Niobe - What happens after 2 years 3 months?

Thanks for the information, as i mentioned i feel allot more calm since this morning thanks to everyone inc your self.

[Niobe]

The OR can then decide whether or not they have an interest in your property.

You might be ok but of course you've no idea what will happen with the housing market during that period.

You may also end up with an IPA which will last for three years and the amount depends on how much disposable income you have.

[kazzafunk]

I believe the OR then looks to see if there is any equity in your property and discusses options to realise the equity (if there is any).

There are a few regulare posters on here who have themselves been bankrupt so they may be able to help further.

[worried9876]

Kazzalfunk - that is good news.

There more than welcome to take equity i of course created this problem in the first place so I will do my best to solve it.

[worried9876]

Niobe - thanks.

[worried9876]

Melanie - i have just noticed you have posted on the forum in the last few minutes.

Please note i have answered your points, feel free to comment as you see fit, not to obviously be destructive but to hopefully help us work towards a solution. I know you like to do this off forum but i am afraid i now like to do it on and you never know we may help people along the way with any luck.