AAAAAHHHHHELP

[Adam Davies]

Chocs
You are at a crossroads now and the decision that you make regarding your debts is critical and will affect your life for many years to come.
Firstly with a BK petition you have to act quickly and decisively.
Spend the weekend researching this site,because on here you will find real honest and unbiased advice and support regarding debt.
An IVA is a brilliant way to sort out your debt problems,I am someone who has been through one and come out the other side.However you must choose a good company and it,s so important that you speak to several before committing.The companies that post on this site are all bona fide.
A DMP will,in my view,not stop your bankruptcy so be sure to speak to an Insolvency practitioner about the possibility of an IVA.
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

[kah]

Despite my negativity - I think an IVA gives you a chance to avoid bankrupcy (at least for a few years)Do get the right IP. If I ahd found this site and these experts before selecting an IP I think my story and feelings would be very different

[scaredkez]

i just want to say remember a house is bricks and mortar a home is a loving environment where ever you are, i have read these posts with interest tonight, last year i was in the same boat as all of you, desperate, i tried every solution it didn't work i ended up BR, ok at present still living in my old house until they decide what is happening , you have to make a choice, all be it not the one you wanted,but if you have a loving family it doesn't matter where you all end up as long as you are all together, put aside the material things in life and look at the real things, the things to make better, we have made our mistakes and we will pay dearly for them, but if you have your family aside you that is the main thing, if they have to change schools so be it,if your partners job involved lots of moving then you would have to face this sort of thing on a regular basis, we all have to make sacrifices be it good or bad, at the end of the day we are all here to fight another day.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[Shining]

I do see what you are saying kerri, but sometimes situations dictate where we live. We can't move house, daughter worked hard to go to the school which is a selected school, we still have the 11+ for entry. I couldn't do that to her, it's not her fault we've messed up and continued with the high life when really we should have been living realistically. My poor father will be turning in his grave. I agree it's bricks and mortar but for four years I want to give my daughter every chance, once she's in uni (if that's what she chooses to do) I can act better as there is only my husband and I the culprits to consider. I've taken the first step and got a few irons in fires to try and rectify or pacify my situation for the interim. I was feeling helpless and because I dare not ring anyone or confide in anyone my situation got worse, I would always suggest ringing someone as soon as you feel you can't manage, not struggle on like we did for so many months making the situation so much worse. I hope we all have a satisfactory outcome eventually and wish everyone the best x

[kah]

You cannot support a child in Uni in your IVA. This is my current disaster. From my wage it would appear I should be supporting him - because of my IVA I can't (this is classed as disposible income and goes to the IVA)Looks as if you could finish an IVA before you hit this point - good luck. To everyone else - BEWARE

[MelanieGiles]

Sorry kah - I don't fully agree with you on this point.

I have lots of clients who are supporting their children through further education, and allowance can be made for this within your income and expenditure. Your children could also get a part-time job to assist with their studies - this gives them a good grounding in household budgeting which will help them when they leave university and start working full time.

And whilst I am not a great fan of student loans, they are one of the cheapest ways of borrowing if some additional funds are required - but no-one should rely solely on student loans to fund their education, as this just gives a bad start to working life.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[kah]

My son does work --- but is not entitled to a full student loan because of my income. He is entitled to just over £3k a year (rather than the full £5k) - and no I was not allowed to make this up as my income level and the government suggest I should (on government website). Yes - I go without to send him odd bits of help but was not allowed to include this in my IVA arrangement - told it was "impossible" as it would count as "loaning" money to him which the terms of an IVA do not allow. This has been my main problem all along

[MelanieGiles]

The advice that you were given is ridiculous - it is perfectly acceptable to provide financial assistance to your children when they are still in full-time education. This should have been included in your income and expenditure - but creditors would expect to see a combination of his earnings, student loans and support from you - rather than seeing all of the monies coming from you personally at their expense. This could have been clearly explained within your IVA proposal, and I am sure would have been acceptable to your creditors.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[kah]

Thank you for the comments. Do you thin it is worth my while returning to my (somewhat non communicative) IP to asf for some sort of mdification?

[chocs]

After reading these last few posts i do feel a little daunted
my son has just started college and is at present looking for a job i have not even thought of the expence if he decides to go to uni but if i have to go for an iva i will go through all this with the ip
as for my home i know its only bricks and morter and we have wanted to move for a long time as the area is not as it was when we first bought our home, but our plans were always to move to a better area this would not happen if i went br also we have fought over the years to keep our own home rather than rent and i dont want to stop fighting now to keep it
after speaking with some one this morning i was told yet again that our debts and income are attainable on a dmp rather than iva its just a matter of getting this debter who wants to make us bankcrupt to agree.
I FEEL I AM RUNNING OUT OF TIME my br petition is now being given to me on thurs so i suppose i have a couple of more days to sort somthing out VERY SCARED AND CONFUSED WHISH IT WAS SORTED

[MelanieGiles]

You are running out of time, and will need to do a deal with this creditor soon to avoid being bankrupt. At this time I am uncertain whether a DMP or an IVA is a better option for you, but do remember an IVA will defeat the bankruptcy application whereas there is no legal protection within a DMP. Either way you have to persuade the creditor to co-operate with you as they have a majority vote. I suggest that you make sure you are taking advice from an insolvency practitioner who can talk to you about all options available and the implications of each one.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Shining]

Thanks Melanie, I am lucky in the sense that I think her Grandma will fund her education as she does presently with trips abroad with the school etc., She knows that we can't afford it and doesn't want her to miss out. Either way I'm sure we'll get through it. Plus once she's 18 and off to uni, i won't think twice about selling the house.