www.iva.co.uk

Hi all
Some know me some dont but I jsut thought i would let the ones of you who know me that i still dont have a job and am getting close to IVA failure.
I missed Januarys payment altogether and for the last two months have been paying just £100 of the £259 i should have.
I got a call today saying that i will be sent a arrears notice and lady on phone said that if i get a job within two months then my payments that i havent made will be added on to the end of the iva but if i dont then my iva will prob fail.
I really dont know what to do and wether or not to see what happens regards to jobs in the next month and then wether to file for bankruspy or not.
Help please peeps!!!!

Hi,

Sorry you still haven't got a job Shazzles.

I think if you don't manage to find one in the next couple of months, then your IVA will be bound to fail and then you will be back to square one. You could try a DMP after that.

As to bankruptcy, do you have any assets which would be affected.

hi
no i dont think i have any assets. My husbands stuff wouldnt be taken into consideration would it??

Shouldn't be.

I take it you don't own your own house?

no we have a council property that the rent is paid up to date fully

Then it could be a way forward for you then. You've done your best,it's not your fault that you are out of work and in this economic climate, it's going to be hard to get another one.

Give it some serious thought. You know that we will answer any questions you may have about it.

ok, so what about fees? how much are they and can i get help since im out of work????

Fees are £495, and with certain benefits you can get £100 off but I don't know which ones they are.

It sounds pretty muc like BR would be the best way forward,you have nothing to protect so why bother,you have done your best to repay what you can to creditors but without a job thats going to be impossible.

Have you spoken to your IP? Has no one suggested a variation until you get yourself sorted out?

hi
no no one has suggested a variation at all

Well you need to have a chat with your IP explaining the position and paybe opt for a payment break of say 6 months (to be added onto the end of your arrangement) whilst you sort out a job. Good luck.

Hi Shazzles,
I know exactly how you feel as I am in a similar position. You have to do what is right for you and I wish you luck in reaching that decision.
For me I now think BR is my best option. I was so scared, confused and anxious but once I made a decision I now feel so much better.
Will be thinking of you,
Chardonnay x

You will save £150 of the Court fees if you are out of work.

I recently proposed a one year payment break for one of my clients who had lost her job, and this was accepted by creditors. On the other hand if you have no assets which would be at risk under bankruptcy proceedings, it must be worth at least considering this as an option.

Hi
Yes i've decided to give it a month to see if i get a job within that period and if not then i will very likely enter bankruptsy.
I have so many things that i would need to find out about doing that though so im using this month as a finding out peroid while i look for another job.

chardonnay wrote:

Hi Shazzles,
I know exactly how you feel as I am in a similar position. You have to do what is right for you and I wish you luck in reaching that decision.
For me I now think BR is my best option. I was so scared, confused and anxious but once I made a decision I now feel so much better.
Will be thinking of you,
Chardonnay x