485 pounds Catch 22

[mish1953]

Is it just me?
Im skint and DMP wont work ( too old ) and IVA seems unlikely so Im looking at BR.
Lo and behold I have to pay £485 to go BR !
Im skint - its going to be a real sod, I can do it this month but the rest of the month will be a nightmare .

I know rules is rules but it doesn't half seem strange

Hamish

[MelanieGiles]

Why don't you save it up in three monthly instalments? Creditors are unlikely to commence real action against you in that timescale, and you will have more time to think about whether it is the right option for you.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[mish1953]

ahhh Melanie .. you are of course quite right but Im so very fed up with my situation, I just dont want to drag it out any more.
I did some calculations and worked out that I could offer N/rock 39p in the £ and not manage to sustain the IVA over 5 yrs , or offer them about 16p in the pound and which would be sustainable .. just cant see them accepting it.
I need to get myself on track, at the moment my emotional state is terrible, my kid needs school clothes, shoes etc, I have one pair of shoes with no holes in the sole . I need to get myself into a manageable state soon & if that means a tough month again then ... I just want to get it sorted and have done with it.

Hamish

[MelanieGiles]

Then best done sooner if you can bear the cost, because the wee ones will need that stuff before they get back to school in September.

Good luch with everything and keep in touch.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk