www.iva.co.uk

For the one's that know my situation,

after emailing and phoning our company back in April, that we were going to fail the iva, we have now missed three payments, now we have to wait another 28 days, to fail the arrangement, but what im confused about is what the letter say's,.

"and if appropriate instruct my solicitor to commence bankruptcy proceedings against you".

can they ultimatly force us into bankruptcy? as we don't want this,
there has been no solutions from our company, and the support from them has been none. any advice on the bankruptcy matter would be appreciated, as we know what we want to do when after we get confirmation on our failed iva, thanks

They can only do this if the IVA proposal actually provides for this - the most likely outcome is that they will call a meeting of creditors to see how creditors want the IVA to be terminated. Generally creditors just want it brining to a conclusion to allow them to start chasing you direct - so at that time you can propose the second IVA if this is still what you want to do.

yes it is Mel, myself and husband have gave it a lot of thought and seeked extra advice from CAB, and with all the lovely people on hear giving us sound advice and hope, it is the best option, but unfortunatly its a waiting game, but we are looking forward to the future, even though there is a risk it may not go our way.

I know i havn't posted for a while, because i didn't want to say the wrong things, as this is difficult, i have spoken to your team, and theyv'e been very helpful. we have had a lot of changes in our income, and i am now looking for a job to cover those changes, and i'm going back to college to do an Admin amd IT course to better my employment status, all in all if i get work we will be able to offer more to our creditors. I'm realy looking forward to next yr, and feel very hopeful for the future.

All the best moneypenny and hope it works out right for you xx

We are all here for you whenever you need us to be Moneypenny.

Fingers crossed that it all works out Moneypenny.

Paul

I hope everything goes ok for you as well moneypenny.

Good luck from me as well Moneypenny x

thanks guys for all your support, my husband and i are very confident for the future, and are learning all the time, just this month i lost my way a little, instead of doing the draw shopping money out each wk, i did the i'll do a little shop here and a little shop there, and before i new it i was running out of shopping money, so its back to the budgeting and careful monitering of very precious money.

ive just started buying postoffice stamps for our car tax, and had to beg our car insurance company to find a cheaper quote, cos it went up by £7 a month for both cars, but now we have house and buildings insurance with them, and our car ins is now cheaper than last yr, they got the price down by changing 2nd driver to spouse, instead of just putting my husbands name, amazing what small changes can do. i am still reading the posts, and still finding new ways of budgeting, i still order off of next and littlewoods online, especially in the sale, but now i pay for items immiediatly, i have no running accounts,which i know your not allowed, although ive not had any debt with littlewoods, which i have had for 22yrs, and it feels good to actualy purchase our clothes with our clothing budget, i looked around next today and loved a couple of tops, but didnt buy as i am sure we can manage for the rest of the summer now, and we will need an extra boost of money for school clothes and the new season, and my eldest daughter gets married in march, so im buying my youngest daughters bridesmaid dress and shoes, my eldest daughter payed for her dress and i payed for her veil, and theyve purchased there rings, the cars have been payed for, and my mother payed the church fee, my daughters mother in law is given them £500 for the food,its brilliant how everyone has contributed, i am so proud of her, they live on £14000 a yr and their one bed rented flat cost £450 a month, her budgeting skills have come from her and adsvice from me, which i have got from all of you,so you should all fell very proud of the changes your making to normal society. she shops on £30 per wk sometimes even less, but she buyes reduced stuff and makes it work, they eat fresh veg everyday, not crisps and chips, we do a hot picks 4 lottery ticket every wed, which we each pay 50p, if we won she would get £7000, what a lovely honeymoon that would buy. Well me mum always say's, "money goes to money" so not holding me breath, but it would be the icing on the cake for them, mentioning cake, her mother in law is making it, yes another saving you say.

well id better sign off hear, and before i go, just to mention i have an interview with H Sameuls, so keep your fingers crossed. xx