if my house is in negative equity and i cant afford the payments on both my iva and mortgage who would benifit from makeing me bankrupt and in this present climate would any body bother
Hi
Always keep up with your mortgage payments over your unsecured IVA debts.
Unsecured creditors are unlikely to make you bankrupt due to the costs,you may be ale to reduce your IVA payments or go onto a debt management plan.
Regards
Wobly, are you having trouble with making payments towards an IVA? If so, you need to speak to your IP.
Bankruptcy will always be a last resort for creditors.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Speak to your Supervisor and explain your predicament. His/her firm might be able to offer you going onto a DMP. But most important keep up your mortgage payments. Possibly (depending on your age) you might be able to convert from a repayment mortgage to an Interest only one - giving you a breathing space of more DI per month. Discuss with your IP.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
in answer to the question i have no equity as to the interest only my mortgage company was northern rock my fixed rste ended and my payments went from 600 to 765 tis along with all the other increses ie electric gas council tax etc is causing me real problems .i have tried talking to blair endersby who always promise to come back to me but guess whgat they never do.
Blair Endersby post on here, so hopefully they will see these posts and contact you via the site.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
You did not state whether your mortgage was a repayment one or interest only one?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Please get in touch with us by email at IP@blairendersby.co.uk, please quote your full name and refernce number. Your case will be looked at and I will also investigate why we have not responded to any contact you have already initiated.
From what you have stated I believe it will be relatively easy to identify the options open to you. I can assure you that as a company we are totally committed to helping you resolve situations just like this - if we have led you to believe otherwise I apologise.
I look forward to hearing from you.
Andrew Wisedale
Operations Director
