Advice Needed F&F - Partner left me with kids - no

[kty09]

It's all a bit dire really - but here's the situation . . .

Sole IVA agreed in October 2009 for £19080 on a £45k + debt.
I have never missed a payment so far of £265.
Currently there is £16430 left on IVA balance (62mths x £265 - the IVA was initially extended by a year to 6yrs as a request by the creditors to get a better return).

In December 2009 my partner (of 10 years) left me with two children (2yrs and 3yrs old) and I got made redundant - but received no payout due to not working notice etc etc (I was falling apart after the breakdown of my relationship and went to live with my mum!)

So anyway - I have been managing the payments so far - but am struggling! My dad has offered to lend me some money to make a F&F but he hasn't got that much and can't lend me anywhere near that kind of money!

Has anyone got advice on working out how much is likely to be agreed by the creditors.

Oh and in terms of the house - there is an equity release clause on it - but my ex is staying in it and covering the mortgage payments - as it is in serious negative equity.

I am just getting beside myself - the breakdown I am struggling with enough let alone being a single mum of two very difficult toddlers - without the money problems on top!

Please - if anyone has any advice . . . .

Thank you

[Shining]

hi there and welcome to the forum, I'm so sorry to read your post and I can imagine all that is going on with you at the moment and the added stress of debt isn't helping at all.

Have you spoken to your IP? Have you considred Bankruptcy as an option to draw a line under your debt?

A full and final settlement of the IVA could be an option financed by your Dad, it would be worth contacting your IP and there will be a way foward of that I'm sure.

I hope you're ok and remember here on the forum we're here to support and advise as needed so don't be a stranger. x