Hi guys,
I have had contact with iva practitioner and they are going to seek a meeting with creditors. I need to get some kind of estimate of return to work and need to show my current pay receipts to confirm statutory sick pay.
I know I shouldn't have but I've had a mail order account whilst I've had my iva as I had no means of buying necessary household items. Apart from making small instalments. I've also been so desperate to keep my head above water I've borrowed £400 to pay towards my phone, food etc. I ain't informed my insolvency practitioner as yet as I was hoping to return to work but that now seems a long way off. The mail order people are now starting to demand. Here we go again. I vowed I'd never get into another situation as before but my health has intervened. Any other suggestions or help would be grately appreciated.
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How much do you owe to the mail order company Paul? If the amount is relatively small this may be able to be dealt with as part of your IVA expenditure - but how much are you contractually obliged to repay on a monthly basis to this debt?
You are not alone in this and you won't be the last to admit it. Your next move must be to talk it through with your IP and seek their support and advice on how to take it forward ... Hopefully they can provide you with a review of your I&E which will stop you from struggling with your payments. In the mean time, try not to add to your account further, or borrow further from your parents.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Thanks for the above reply's.
The amount owing from the mail order in in the region of £3500 but that includes all of the buy it now pay later interest which is approx £1300. I have spoken to mail order people and they say that the will put me into a payment arrangement and remove the interest. I haven't used the mail order service since before my heart attack in August. I did keep up payments in August, September and October. I have completed my I&E form and sent off my pay slips confirming my statutory sick pay to my insolvency practioner, but didnt include the mail order as I thought they would force me into bankruptcy. Should I still contact them or see how things pan out with my sickness and eventual return to work?
£3,500 is actually quite a lot to owe to a mail order company. Can you give me some ides of the items you have actually purchased - happy for you to message me off line if you prefer.
You really do need to advise your IP of this - which firm are you with?
Hi, could you advise me further?
I have had an IVA for 3 years now but im unable to pay due to long term sickness and receiving only statutory sick pay and I am unable to know when for definite I will return to work and to what capacity. (My position is a general manager and my normal working hours were 52 per week).
The plan from my doctor and consultant is for a phased return when I eventually feel fit enough to return to work. I have had constant contact with my employer who is concerned that I may not be able to take up my usual role within the company because of the nature of my job and business we are involved in. It’s pretty much high pressure and can be unbelievably stressful.
I have made my IP fully aware of my health situation and forwarded doctors fit notes, pay slips and hospital consultant reports as when were due or necessary since having major heart problems and some complications due to the problem. I have since had an operation to which im currently recovering, along with a little depression following being ill for so long and money worries.
I also informed them of a breach of my IVA by having a mail order account during my last three years using it as a necessity. They have advised me that because this debt has been accrued during my IVA it cannot be included. I have made arrangements with the shop direct people to pay what I can, when I can once I eventually return to work which will follow a revised income and expenditure sheet submitted to my IP prior to knowing what will be affordable.
I have had some contact on this forum where someone suggested that my creditors may take a lenient view due to my health problems but my IP has not suggested this will happen. They have asked what sort of payment break I thought I would require, to which at present I cannot give. I have spoken to other who has said why don’t I declare bankruptcy? Im not sure if that is an option is it at this stage? Im led to believe that with bankruptcy that I would have a payment order in place for three years too!
Im currently temporarily residing at my girlfriends address until im well enough and can afford to once again live on my own. I have been in rented accommodation in the past but when I took ill couldn’t keep up the payments or pay my usual household bills. The only asset I have is a 7 year old ford focus which has seen better days to be quite honest. The value I would put at tops approximately £2800 if im lucky. I have no further valuable items be it household or jewellery etc.
Could you give me your honest and frank opinion so that I have some idea of what Im facing?
In bankruptcy you would only make payments if you could afford to - which it sounds that you will not be able to. No-one can advise you specifically about what is the best option for you on the forum, and I would suggest that you arrange a meeting with your own IP to see if they can help - as they already have detailed knowledge of your case and current circumstances.
