advice would be most gratefully received.

[james.d]

My wife and I entered into an IVA in January 2004 which subsequently failed in January 2005 due to ill health and loosing my job. I now receive DLA and long term incapacity benefit. After a series of 8 operations I have no hope of returning to work. I am 58 yrs old. My wife works, as she did when the IVA was taken out. I have just received a letter from a creditor, one of the original people I owed money to, who agreed to the IVA now saying that the firm they were delaing with (my IVA provider and advisor) say they no longer manage my debts and therefore are writing to me direct to ask for a full and final payment of the debt, less the IVA payments they received. Can they do this after so long - does this mean we will be begin receiving letters from all of our other bad debts? We only have just enough money to make ends meet. Your advice would be most gratefully received.

[size5]

Yes they can do this as they are no longer bound by the IVA, and it probably does mean that the process of contact by the other creditors will begin again.

If you have no disposable income at all (you are only just making ends meet as it is and I assume that doesn't include debt payments currently) then that would seem to rule out a DMP, which leaves Bankruptcy.

The big question there is are you a homeowner or tenant. If owner, how much is the property worth and what is the mortgage outstanding on it?

Regards.