Made a wrong move i believe! Some advice needed :P

[clive.g]

Hi.. All.. Long time since being on here.. Doubt youve missed me rofl

But anyway on a more serious note.. I had been payin into my Iva since april 08 and ive decided to take the bankruptcy route now as im not a homeowner still living with parents and all the things that would make bankruptcy a better option for me.. & also if im honest ive been struggling with money and paying my Iva each month just recently as my hours at work have been cut down..

So what happend recently was that a company called carefree group ltd based in keighly called and said instead of paying another 3 more years which are left on my Iva they could put me through volentary bankruptcy paying them less of £150 per month instead of £211 which i was paying into my Iva.. But just for two years.. At the time i thought this was great! A year less of paying util i was cleard of being out of debt.. But ive paid four payment to them so far and now im thinking ive made a bad decision as the ony main contact ive had from them is for them to take my income and expendisure.. And thats the most they have done.. So basicly they have been taking money off me for nothing really.. Giving to my creditors a percentage.. just like an Iva situation as token payments to keep them happy until the carefree group then say im going to go bankrupt.. But all they are doing is making money out of me for nothing to be honest!!

Soooo.. Ive just canceled my standing order with them.. As im not happy with how the work.. because if i want to become bankrupt i might aswell get it done.. not leave it hanging around so they can do it w/e they feel like it!..

I have now found a company who will get my bankruptcy pertition though within the next four months.. I know i can do it myself but id rather be helped through it all with some professional guidence..

So im making a total of four payment with them and then that will be it costing me alot less than i was paying carefree.. And i will have to attend court when the time comes..

All i am concernd about really to be honest is if carefree will charge me like a big some of money from the £150 per month payments i was suppose to make for just cancelling with them without finishing the two year period which was signed for.. But i have been told not to worry from this company im now with.. So i guess ill just have to wait and see what happends...

Its only been a week now since the change of companys and standing orders being sorted...

Just fingers crossed really that i wont have any bother & it all goes through alright..

I'll just keep you updated.. But i will say if Carefree group ltd call you.. Dont go with them.. They may sound good at the time but they are not atall in my own opinion.. They come across as a money making company without real interest on your own problems..

[Julie]

Hi Clive,

Nice to hear from you [;)] I'm sorry you have decided not to continue with your IVA.

I do wish you hadn't felt the need to pay anyone to help you with BR..the forms are easy to fill in and we would have helped you.

As for the payments, if you do have to pay anything, this will be for 36 months.

Good luck and please keep us updated xx

[kallis3]

Hi, nice to see you.

Personally I think you should have spoken to your IP in the first place to see if your payments could have been reduced.

The bankruptcy assist companies are only out to make money for themselves.

BR will cost you £600 and you will have to pay the company fees on top of that. You may get an IPA depending upon your disposable income. You will be bankrupt for 12 months usually and your credit record will be shot for a further 6 years.

If you want to go BR it is easier (and cheaper!) to do it yourself.

[Adam Davies]

Hi
How much are you paying to this new company over four months ?
Regards

[plasticdaft]

Whats the name of the new company?

Paul

[clive.g]

Thanks all for your help.. And thanks Helen i just hope one day things will look brighter to be honest everyday the fact that i am in debt gets me down so much and has made me unwell.. But as all of us know in a way its really our faults & i regret it each and every day..

But anyway this company im now with has asked for a total payment of £1000 and this covers the whole process including court fees etc. so basicly ll they really are gettin out of me for there services i believe is around £400.. I got in touch with him from my uncle who went with him when he had debt problems hiself.. I would rather not give the name if you dont mind.. But thats what im doing now.. Paying £250 per month over four months.. Then hopefully things might get a bit better.. I shall just see what happends x

[Shining]

I wish you all the best Clive and hope it works out for you x

[plasticdaft]

Any reason for not giving the name? If the company are recommended by your uncle it may help others who are thinking about BR but arent sure if they could do it on their own.

Paul

[kallis3]

I agree with Paul. If those fees are correct then they are one of the cheaper outfits and it may be of benefit to others if you do let us know who they are.

Don't forget that you will probably still be making payments to the OR for three years.

[MelanieGiles]

You could get the bankrutpcy order a lot sooner if you were not paying fees for someone helping you to fill out a very simple set of forms - where all of the information is readily available to you from your original IVA propososal.