www.iva.co.uk

Hi all
i have an iva with blair endersby which was taken out in 2008 since then my partner and me split due to preassure of the iva i was made homless with my little girl i then got a council property with my daughter then was made redundant in jan 2009 after working for same company for 30 years due to me setting up home in wigan (was in manchester) my eldest daughter wanted to come and live with me this was followed by the girls mum who is ill we are not partners i am her carer as you can understand i have had a whole house to set up and i am now ill with depression. sorry to go on now to the question my redundancy money is almost all used up i have tried to obtain reduced payments but as of yet i have creditors wont agree my original payment was £457 pm i was told to pay £251 in the interim until sorted out but then put up to £330pm i am living off benifits but if i took my works pension early (i am 52) i will have access to £14000 i was wondering if i could use this as a final settlement because the advice i am getting off blair endersby at the moment is to make myself bankrupt which will cost me money and my creditors will not get much surley this would be better all ways round because my health is realy starting to suffer with the stress. one final thing i got a letter off rsm tenon they are representing the royal bank of scotland which is one of my creditors this debt is covered by my iva i did not think they could contact me once an iva was in place. many thanks dave

Hi Dave and welcome to the forum.

I am sorry to hear of your problems within your IVA and that it is making you ill.

If you have no assetts do you think that Blair Endersby could be right in their advice that bankruptcy could be the best option. I don't honestly know and will leave it for a professional but it's not worth you getting ill about I do know that much. Hang around and someone will be here very shortly with detailed advice of that I am sure and I'd like to wish you all the best. x

Thank you for ur reply just want to use the cash lump sum off my pension to sort things out then maybe i can live again. thank you for your kind advice

Your IP ought to be considering the offer you have made and whether this produces a better return than bankrutpcy for the creditors. If you are willing to pay the money over - which I assume is coming from a third party - and this does not put you into a worse financial situation then I am not sure why they are trying to persuade you to go bankrupt.

Thanks Melanie
the money is cash sum thats comes with taking my pension early would just like to use it to pay iva off because its the only chance i will have when my iva was took out i was on £2000pm now i am on state benefits but change of circumstances still not approved and they still want same monthly sum as if i was still employed i have not worked since january 2009 but have maintained the iva from my redundancy package but i will not be able to keep the payments up i will contact b&e again many thanks for your kind advice

Before you decide to offer anything from your pension fund you should take independent financial advice as this could seriously affect your income in retirement. I also believe that the age limit for early pension drawdown has been increased from 50 to 55 so even if you do make an offer to creditors ensure that you will be able to get the money from your pension pot.

Hi Michael
yes money available from age fifty because i had been with the scheme a long time i am still able to draw at age fifty i know about reduced amount but feel i can manage and it will be worth it to me because the strain of the iva is making me ill and driving me to the edge it would be worth it to start a fresh many thanks

Hi i have heard blair endersby post on here i am a client i am desparate do not feel the advice i am being given is right i can take a sum of £14000 from my company pention this is the only lump sum i can get please help

iva makin me ill wish i was not here no more

It might be better if you e-mail your IP directly on this point. You can find their e-mail address on the Insolvency Service's website.

Try emailing your IP direct via this link:

http://www.insolvency-service.co.uk/newipsearch.htm

Thank you
Melanie & Kallis3 will try contacting IP direct as always thank you for your advice

Let us know how you get on.

Hi all
had a letter of Blair Endersby this morning saying that my joint supervisors of my iva have resigned from my arrangement but i have two more supervisors by court order liverpool district registry. I will now have to try and contact the new supervisors and try for a final figure. hope its nothing iv'e done that my supervisors have resigned.

I would not worry, the new supervisors have taken over everything the old ones where doing.

And as far as Ive heard off the forum one of them comes highly recommended & Im sure the other one is as well.

I am with BE too, if you are worried give them a call, as the letter states if you have any concerns & to put your mind at ease.
We had the same letter last week, I would try not to worry & its nothing you have done, the supervisors leaving has been in the pipe line for a while.