Hi not been on for a while as been busy at work but to let everyone know, mine and the wifes Iva meeting is to happen at 3.00 today. So after 9 weeks we finally get to the vote deadline.
Will post back in a bout 30 mins to a hour.
Well just had one call but got to wait 15 min for them to ring back.
The was regarding vickis iva, And the fact one of the creditors want her to seek work.
Told them on the phone that if it comes down to this then the IVA would not be accepted by us as we have a young child and lack of jobs in this area. To get a job would result in a second car/reduced working tax and CT/housing benifits and child care cost so would cost us more anyway.
Mine went throu without any mods. So that was pleasing.
Unfortunately both me and vicki have decided to not go ahead with hers as the mods put forward was unrealistic and unafordable and to be honest after going over the I.E many times i can only use the words brain dead.
By putting forward the mods the creditor cost themselfs a few grand that they wont get due to her bancruptcy.
All in all we are happy thou as mine was the largest amount of debt
To be honest it was more so that creditors would have got a bit back if we went down the road of a IVA which we both prefered. Plus i have a few items on Hp.
Think my debts make up around 70% of our complete debts so in that sence its a good result.
One of her creditors wanted her to apply for employment ASAP.
They dont think things to well to do this we would need a car so running cost would need to be sorted aswel as funds to get the car. Plus im on lowish pay so we get around 80% rent benifit and 60% ct benifit. Add to that 41p to the pound decreese on WT and a fall in Child tax then adding Child care cost, after working it out for the first £205 pound she would earn we would lose in car cost/benifit changes. then above that there would be a large chunk going on Child care but to get a job in this area that pays the amount neede to be better of is near impossible anyway.
The other was a decrease in food allowance of around 22.50 a week down to £61.00, I suffer certain food intolerance and have to buy a lot of alternatives which cost a little more. so we see this as unreasanble.
Has me a bit worried though as my wife does not work due to illness, I suppose they will tell her to get a job but their is no way she would be able to.
Im sure with your wifes, as she is in a different position she will be fine I.E illness.
Where in our position my wife is okay to work but would cost us more at the mo for her to work
Well done on your decision Notscared. As you say creditors will lose out by not accepting your wifes.
Desperate Bob - I wouldn't worry about your decision. Creditors are normally sympathetic about illness and wouldn't want any negative press by asking someone who genuinely cannot work due to illness to look for a job.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Desperate Bob
Crazy, they must not want their money back.
Has me a bit worried though as my wife does not work due to illness, I suppose they will tell her to get a job but their is no way she would be able to.
I don't work Desperate Bob due to having a breakdown over 18 months ago for which I have received extensive counselling for, we have a joint IVA & not once did our creditors suggest I went back to work. My husband is a low earner as he is a self employed builder and the current climate has had a contributory factor to our credit demise.
Each case is individual and I'm sure you will get the outcome your after.
All the best.
**23'04'14 - IVA Complete F&F Agreed with payments made to date oh and a fat PPI reclaim helped too. Completion Certificate received 23'10'14 ** After a couple of years of waking up and 'surviving' the day I now wake up and 'Live' for the day!!
**Any comments I make are purely my own opinions**
Creditors can be stupid sometimes, and putting forward a modification expecting someone to get a job asap is ridiculous as you can hardly enforce it if you are acting as the Supervisor.
That said, I am a great believer in things happening for a reason, and perhaps in the long run this may be a blessing in disguise if you have nothing to lose by her going bankrupt. How are you going to afford the fees to fund bankruptcy now?
Ermm as for the money for bankruptcy,
Really tight belts for a few months and since we decided to go into the IVA 9 weeks ago we lived within our budgets and also kept the money back that would have been the IVA payment to make sure we could live without so theres 2 lots of that and bits we saved out the budget. It wont happen over night but i would like to think we could get the other few hundreed over the next few month
