www.iva.co.uk

Not sure if you can help me just wondered what will happen to our iva in the next few months.
We took out our ivas in March 2009. In March this year my husband was found to have terminal pancreatic cancer. At present we live in accomodation which is owned by his employer so our utility bills are minimal.We are now in the process of moving out so our disposable income will be very small as we will be paying full bills again. My husband has been working a few hours while he has been feeling reasonable but his health has gone downhill recently so both his job and home will be gone.Too be honest the ivas are the last things our minds but it still worries me what will happen if we can't meet the payments.I did put a final settlement offer in for mine in april but have heard nothing. It was for a low amount but it is all I could borrow from relatives.Our iva company are aware of our situation and suggested that I get some money together to see if I could clear mine.As my husband will no longer be able to work what will happen to his? Will they make him bankrupt with his health so poor?

sorry I can't help but I am just so sorry for you both. The experts will be along shortly no doubt and they are excellent so be assured you will get some sound advice.xo

Hi, so sorry to hear about your husband. I entered into an IVA a month before my mum got sick, and five month's later passed away. She had a stroke. It took a few phone calls but had a chat with my IP. Company were very understanding and I had a new creditors meeting and payments significantly reduced. I know that at the moment the last thing you need is to have to worry about money. One of the experts will be able to advise you. I am new to all this so no expert but wanted to say when it comes to the IVA I hope you will have no need to worry and you and your husband can concentrate on his health.
I really wish you all the best.
deb

I dont think both of you going BR would be a bad option given the illness. What IP firm have you used as I think its pretty disgusting of them to try and get you to borrow money to settle your IVA at a time when you should be concentrating on enjoying what time you have left together.

Seriously take a look at the bankruptcy option,if you have no house to worry about it really is likely to be for the best.

No point in having money worries if your Hubby is suffering from a terminal illness.

Paul

I think that in the circumstances bankruptcy proceedings for both of you are the most sensible option - as I assume that you have no assets which would be at risk from creditors. You have far more important things to concentrate on, and to be honest I think that you will find this a big relief to not have the IVAs to worry about - but do chat this through with your IP.

I echo what Melanie and others have written and send positive thoughts to you both x

I'm so sorry to read your news and my heart goes out to you both.

I totally agree with everything said above.

Remember that this forum is always here if you have any questions or need any support.