www.iva.co.uk

Im in the process of setting up an IVA. At this moment in time I have a boyfriend of 9 months (we plan to get married some time in the near future, the only thing stopping us is FINANCES!!). whilst we dont live together right now, we plan to sooner rather than later.
If he moves in with me he will only be contributing a small percentage towards the bills as earns just over £1000 a month take home, and cant afford to help towards the mortgage.

As you may have read from a previous post he's in the process of being "screwed" by his ex regarding there joint past debt (approx 5k)(thankfully only financially rather than literally!)

I think his Dad is gonna lend him the money to sort his finances, however he will be responsible for paying his dad back.

At what point do I disclose him to my IP?
It doesnt seem fair that he should be contributing towards my debts incurred from a past bad relationship, and also as his loan from his dad is an informal loan, will it be considered as a monthly outgoing for him or will his Dad have to suffer and lose out on repayments.

Further more we plan to possibly move from London, up towards Leeds/Bradford where he is from originally and have a family, within the next two years, how will my plans for children affect my IVA.

I know it seems incredibly selfish of me as I have got myself into my own finacial trouble, but I dont want to have to wait 5 years (till my IVA ends) to start a family. Admittedly im only 25 so have time on my side!!

Nat

The sort of decisions that you are facing making, are life changing ones which only you can decide for yourself. Do you not feel that bankruptcy proceedings are not a better way forward for you, assuming you have no assets, in order to make a fresh start?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hello Nat,

Thank you for your post and welcome to the forum.

I agree with Melanie on although bankruptcy has a bad stigma and is publicly advertised, it should always be considered when dealing with individual insolvency cases.

Kind regards,



Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

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Thank you for this advice, Im at a loss where to go to get impartial advice about what to do for the best. I know ultimatly only I can make a decision on IVA or BR. I guess I need to see it in "idiots" terms drawn up to reflect my exact circumstances. Yes MY IVA proposal includes a brief summary- but the way it reads suggests to me that its in there more for there beneift eg it explains they've shown me some info regarding it, rather than tailoring it specifically to me. Or maybe im just too dim to understand it properly.

any ideas who to contact for a simplier, more specific idea?

Why not get a second opinion from another insolvency practitioner? It won't cost anything and you have nothing to lose.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Thanks for this. Sounds so simple!! im currently dealing with clear start, but think ill try one of the companies on here as a comparison

Always try and talk to at least three different companies so that you can get an idea that you are receiving the correct advice to suit your own personal circumstances.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Nat
Talk to Melanie.
She will be direct and non-judgemental, and has heaps of experience.
I would recommend her to you.
Helen

I agree with the other experts, contacting 2 or 3 companies whilst in this process is the best advice. Then you will be certain that you are not being led astray.

Make sure you consider all your options with care and remember there is always a debt solution.

Best Regards. IVA Experts

hi

I had good advice from cccs and they are now doing their own low cost IVA's

lily

Hi Nat,
From Leeds/Bradford me, it's cheaper up here but get used to the rain.
BR may not be bad for you. The area is (flooded)[;)] with buy to let and private landlords that don't use credit reference agencies and the scenery is out of this world.

Regards
Adrian