Louisa This is just one more problem you don't need I guess. Unfortunately there is no easy answer. Yuour proposal presumably allowed you to keep your car because you need it for work but would not have allowed any "spare" money for replacement of it. I suggest that you see what it is worth as it st...

Hi Ami As an IP myself I agree with Melanie - why on earth would you want to subject yourself to 6 years of further pressure (with the ever present risk of bankruptcy if it doesn't work out, which sounds highly possible given how tight your finances are). I should also point out that if you did mana...

Hi Ian
Make sure that your partner makes it clear that she will only make the money available if the variation is approved. That will avoid any risk of it being treated as a windfall. Otherwise you have all the answers above.


Phil Wood (IP since 1983)
www.barringtons-online.com

Westonr If your house is repossessed you would still be liable for any shortfall on the secured charges, in addition to all your other unsecured creditors. Whether you would be able to cover that from income without an IVA would depend on the numbers and the attitude of the previously secured lender...

Hi Becky It sounds like your IVA has a clause such that it will automtically fail if you fall two months or more in arrears - if so your Supervisor has absloutely no discretion, you would need a variation agreed to by creditors before that point is reached. If that is not granted, which from what yo...

Hi Oddjob I've been an Insolvency Practitioner since 1983 but have only just found this site - and it's a great opportunity to share knowledge and to try and eliminate some of the myths in this very personal and difficult areas. To answer your last questions, First Plus (along with any other unsecur...