www.iva.co.uk

Posted: **Thu Nov 15, 2007 12:15 pm**

My husband and i started an iva in january,after bills rising and i lost my part time job,we are still finding it hard to manage.After contacting debt free direct who are dealing with it they have said we cant lower our payments.Cant see another way out unless we go bankrupt,(which we dont mind doing,we are council tennants and our car is not on finance) but havent got a spare penny to pay for it.Can you think of any solutions for us.

Posted: **Thu Nov 15, 2007 1:01 pm**

Hi
If you are sure of the bankruptcy route then stop paying into your IVA and save that money until you have enough to petition for both your bankruptcies.
Just let DFD know what you are doing
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Posted: **Thu Nov 15, 2007 1:05 pm**

Hi s-mp and welcome

As a person in debt and also Bankrupt I can only offer help from my own experience. My IVA failed as I could not maintain the payments. I petitioned for my own BR at a cost of £485. If you are considering BR, it has been suggested on various other threads that you make no further payments into your IVA, save this money and use it for your BR petition.

I strongly suggest that you speak with your IP about this and discuss your options with him/her. I do however, find it strange that they will not take into consideration that you are no longer employed. Are you wanting to return to work? If so, perhaps negotiating with your IP for a short payment holiday whilst you look for work and then try and make up the shortfall by paying extra into the IVA once you have settled into employment.

Hope this helps

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

Posted: **Thu Nov 15, 2007 1:06 pm**

Sorry Andy!!! Posted at the same time!!!

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

Posted: **Thu Nov 15, 2007 1:31 pm**

If you are struggling to make your IVA payments and have enough money to live, bankruptcy might be the way forward for you.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp