Get expert opinion. This is the place for new questions to be posted.
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vincent.ma
- Posts: 16
- Joined: Wed Dec 30, 2009 5:21 pm
please can you advise me ..I,m in an Iva for one yr and i,m shruggling to keep my payments up..i have asked my iva company can i lower my payments ...which they replied no , even though on paper i,m falling short by £132. a mounth..they said my creditors would accept this ..my house is in no state to sell ..i have an 8 yr old daugther ...and i,m beening to feel desperate.... I have received a letter in the post from a company called iva helpline uk ,in poole , dorset.. who said he can get me out of this proberlem ...i,m worried i,m i doing the wright thing ...do,nt want to loose my house...please could help ...
Last edited by
vincent.ma on Wed Dec 30, 2009 5:21 pm, edited 1 time in total.
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
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Hi there vincent, not sure if that was your name at the end of your post but have removed it as many posters like the anonymity of posting.
Welcome to the forum and did they not offer to do a revised Income and Expenditure form with you? I would guess that helpline UK is a company who will assist you to go bankrupt and believe me if that's the path you choose then bankruptcy can be done by yourself without paying someone to help you. Apologies if I'm wrong about the company.
A professional will be along shortly to advise I'm sure x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Adam Davies
- Posts: 14596
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Hi
Go back to your IP and insist that they revise your payments to an affordable level via a creditors variation meeting.
If they refuse or it is not accepted then look at bankruptcy.
Regards
Andam Davies
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vincent.ma
- Posts: 16
- Joined: Wed Dec 30, 2009 5:21 pm
thank you for your reply ... i gave my iva company a revised income and expenditure form and exsplained my situation , but was told they could,nt lower it , but i could take a 6 mounth holiday break ,which meant me stay in iva for a further 6 years...
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vincent.ma
- Posts: 16
- Joined: Wed Dec 30, 2009 5:21 pm
i have looked at my finanices and i,m not bringing enough money in to pay my bill and pay iva..
i,m not in a position to be able to sell my home and give the money back , due too outstanding work that needs to finished to be able to sell ....
i know bankruptcy is my only option and feel my home will taken and me and daughter will be homeless..
please could advise me who to speak to on the matter ,
many thanks ...vincent ....p.s sorry ifspelling mistakes ..
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Shining
- Posts: 27019
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Hi Vincent don't worry about your spelling so long as we can make out what it says that's fine...do you have equity in your home?
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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vincent.ma
- Posts: 16
- Joined: Wed Dec 30, 2009 5:21 pm
hi lesley thank for getting intouch ...no i do,nt think there is any equity in my home... my morgage is 141.ooo when iva asked for valuation on my one yr ago iwas told i could put it on the market for 180.000 but would be lucky if i got 150.000 because of the state the house was is in, due to unfinished building work..which i can not afford
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
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I don't know much about bankruptcy but I do know that there are posters who do and if there is no equity your house could actually be safe within bankruptcy.
Hang around and one of the professionals will be along very soon to advise.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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vincent.ma
- Posts: 16
- Joined: Wed Dec 30, 2009 5:21 pm
thank you lesley...much appreciated
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Julie
- Posts: 9478
- Joined: Thu Feb 14, 2008 10:56 pm
- Location: United Kingdom
I've replied on the other thread Vinny [;)]
