We cannot now afford our IVA. If F&F fails our only choice is to go bankrupt.

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gavboy

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Post by gavboy » Tue Feb 04, 2014 3:22 pm
Thanks for your help in previous posts. As explained before my partner and myself have seperate but joint IVA 's but due to a new baby and bonkers childcare costs it will cost us more than she earns to have pur youngest looked after, so we now cannot afford our IVA . Step change are in the process of arranging a creditors meeting as our iva has run for 2 yand a half years and offer that as full amd final payment.
I do nt hold out much hope for this ,our only choice is to go bankrupt.
Step change asked if we could go somewhere with lower rent, we pay £1500 a month for a three bed house in west london, our mortgage before we lost the house was 1800 a month, but in this area where our boy goes to school and where family is etc is rent hell and everything is sooo expensive, we have just signed a new tenancy agreement for 2 years. if we go bankrupt will they make us move to a lower rental property as we have no other way to cut costs our car is junk , this is driving me mad with worry and really struggling relaxing at all feel like everything is slowly unravelling , any suggestions gladly received.
 
 

Kelly O

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Post by Kelly O » Wed Feb 05, 2014 11:07 am
If you go bankrupt the OR could consider alternative rented accommodation if you can obtain a property for a cheaper rent than you are currently paying.

Any property must be suitable for the reasonable domestic needs of the bankrupt and his/her family, the stage a child has reached in his/her education (for example where he/she needs to remain at the same school to complete a significant exam year) or the care needs of a dependant (e.g. day care or respite care) will need to be considered by the official receiver.

These matters should be taken into account when making any decisions regarding the flexibility of the bankrupt and his/her family in moving to alternative rented accommodation.
Regards Kelly Osadare Debt Advice Manager at www.pjgrecovery.com (host to www.melaniegiles.com.)

PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
 
 

MelanieGiles

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Post by MelanieGiles » Wed Feb 05, 2014 2:47 pm
Is it worth considering whether you may be entitled to receive any housing benefit to assist with your high costs?
Regards, Melanie Giles, Insolvency Practitioner
 
 

Kelly O

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Post by Kelly O » Wed Feb 05, 2014 2:55 pm
You can run your circumstances through the benefit checker http://www.entitledto.co.uk/calculator/ which will give you an idea of any housing benefit entitlement
Regards Kelly Osadare Debt Advice Manager at www.pjgrecovery.com (host to www.melaniegiles.com.)

PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
 
 

gavboy

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Post by gavboy » Sun Feb 09, 2014 1:15 pm
I earn too much to get any benefits have had our child benefit taken due to this. Our accommodation was approved by the Iva people at the time, I have looked again recently and there are no available properties within a mile of my sons Playgroup and the junior school he will be starting in September. The only accommodation a bit cheaper are two bed places, this is becoming a nightmare would they really make us change our kids schools to find cheaper rent
 
 

gavboy

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Post by gavboy » Sun Feb 09, 2014 1:29 pm
Have checked the benefits link just in case, we are entitled to 0, unfortunately we are part of the unlucky middle income lot, who dont quite earn enough to be comfortable but pay high tax, get no help and if we get in trouble are left to fend for themselves, pretty sad really. i have nowhere to turn and now as i keep trying to do the right thing for my family and each turn takes me into a world of uncertainty, if the OR want me to leave this house they can find me a new one.
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