29.72 pounds to live on a month

[zoe]

HI there
So what exactly is your rent?

Zoe
x
Keep your chin up - everything happens for a reason!
View my blog http://zoes.blogs.iva.co.uk/

[Karen.c]

£250.00 Rent per month & £250.00 food shopping per month

HI there
So what exactly is your rent?

Zoe
x
Keep your chin up - everything happens for a reason!
View my blog http://zoes.blogs.iva.co.uk/

[zoe]

Hi there
Seems very low rent - do you mean £150 food shopping
Do you live at home with parents?

Zoe
x
Keep your chin up - everything happens for a reason!
View my blog http://zoes.blogs.iva.co.uk/

[Karen.c]

I live with my husband and pay him that agreed amount every month and yes I did mean £150 sorry hun

Hi there
Seems very low rent - do you mean £150 food shopping
Do you live at home with parents?

Zoe
x
Keep your chin up - everything happens for a reason!
View my blog http://zoes.blogs.iva.co.uk/

[ray_a]

Hi Karen

Is your IP with Clearstart or were you passed over to an IP.

The reason I ask is that legally and financially the IP is your supervisor and if he or his firm heard that you are having dificulties then he may consider your contribution.

The increase in the contribution was far to high.

I am surprised that a variation to reduce it by £70 for even a year is not unreasonable and should get past your creditors.

Eight weeks ago I was desperate with my supervisor and so I understand how you are feeling!

Take care and it can be sorted!

Good Luck

Ray

[Karen.c]

Hi Ray

My ip's name is Janet Watson it was passed to her by Clear Start, she is totally aware of the situation and states there is a clause that there can be no variations for the fist 24 months, Oh i am lost as to what to do next and it is getting me down so much I simply can not afford to live ;-(

Hi Karen

Is your IP with Clearstart or were you passed over to an IP.

The reason I ask is that legally and financially the IP is your supervisor and if he or his firm heard that you are having dificulties then he may consider your contribution.

The increase in the contribution was far to high.

I am surprised that a variation to reduce it by £70 for even a year is not unreasonable and should get past your creditors.

Eight weeks ago I was desperate with my supervisor and so I understand how you are feeling!

Take care and it can be sorted!

Good Luck

Ray

[Adam Davies]

Karen
You always have the option of bankruptcy at any time if you find the IVA unbearable
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

[YummySheep]

Where they have said no variations for 24 months, this normally relates to a modification from a creditor. Can you please tell us what the actual modification states, you should be able to find it in your Chairman's Report.
There are various wordings of this modification, depending on what it says, I may be able to suggest something you can out to your Supervisor.

[YummySheep]

out = put - sorry, silly keyboard, or could just be my fingers!

[Karen.c]

Hi Yummy

I do not have a copy of the chairmans report I signed it and sent it back but did not get a copy from what I can remember my IP saying is I can not change any charges for the first 24 months as I explained to them I was struggling with the £449 payment per month but they said it can not be changed for the first 24 months, otherwise he creditors would not except it.

Where they have said no variations for 24 months, this normally relates to a modification from a creditor. Can you please tell us what the actual modification states, you should be able to find it in your Chairman's Report.
There are various wordings of this modification, depending on what it says, I may be able to suggest something you can out to your Supervisor.

[Karen.c]

Thanks for your assistance Andy Davie, how would I evenbegin to start the ball rolling for bankrupcy and also what woul dhappen if I missed a couple of payments on my IVA as it is set up as a standing order to come out every month.
Clearstart told me if I miss 3 payments I would automatically go bankrupt is this the case

Karen
You always have the option of bankruptcy at any time if you find the IVA unbearable
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

[Dominic]

If you cannot afford to live after paying your iva then realistically speaking, and i am sorry to say this, bankruptcy looks like the only option.

[thebear29uk]

Hi Karen

Some proposals say that if the IVA fails the IP will use funds already received to petition for your bankruptcy. But this is dependent on the nominee fees and set up costs being paid first. In my case that amounts to £3000. If the amount is similar for yours then its unlikely you would have paid enough in.

However if you were to petition for your own BR the fees are £475 which is very similar to your IVA payment anyway so it wouldn't make much difference to you either way. Read the blogs on here by Skippy13, Scaredkez and Zoe. They will give you an idea of the process.

Regards

Dave

[Skippy]

Hi Karen, I was in exactly the same situation as you. My payments were £459 per month, and there was no way I was going to be able to survive for 5 years. I also had the 'no variations in 24 months' modification, so my only option (advised by my IP) was to go BR. I did this in March this year, and to be honest it's the best thing I could have done in my circumstances. I had to pay my own BR fees as I hadn't paid enough into my IVA to cover the fees(!) and allow my IP to hold any money back to petition for my BR. I saved the money by not paying into my IVA.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Adam Davies]

Karen
Speak with your IP and discuss your concerns.If you cannot agree a way forward with your Ip and want to consider bankruptcy then I suggest that you read the blogs of other forum members who have gone bankrupt[Zoe,skippy,Coco etc].
If you are sure that this is the route for you then you can either wait and see if your creditors petition for bankruptcy[saving you the cost] or you can download the forms off the net and do it yourself,at your own cost.
Please try and resolve your problems with your IP if possible.
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