can they still make us bankrupt

[tracy.h]

i recieved a letter of non compliance, saying my arrangements had been failed as i did not want to continue with arrangements. the iva was only 2 wks old so we never paid into arrangement we never agreed to modifications but thats another story.

my question is now its been failed regardless of out come with ip can they still make us bankrupt they never applied for an interim order can we try for another iva or debt management program dont no what to do as we havnt made any payments to creditors for 6 mnths as we have been payig our surplus expenditure to the ip as we were told it would show creditors that we were commited to iva Iam already amember of the forum but am getting increasingly worried.

it doesnt look like we will be getting the money back to give to the creditors.there were also no up front fees to pay

[MelanieGiles]

Hi tracy

I have been responding to your other postings - and the whole point is that if you did not agree to the modifications then the IVA is null and void. The Certificate of Non-Compliance is therefore unecessary because there is no valid IVA.

If there is no IVA, then the "Supervisor" is not in office and therefore has no power to make you bankrupt. However, if there is no IVA, then you have no legal protection from creditors and therefore they can continue to take the usual legal actions and collection procedures against you.

I have to say I really find this issue quite bizarre - are you absolutely sure that you did not agree to the modifications to sell the property in any shape or format?

With regard to getting your money back from the IP, this will be entirely dependent upon the type of agreement you entered into. If the IP advised you that the monies paid were to be in lieu of his nominee's fee (and there is technically nothing wrong with this - a lot of IP's will not act without the nominee fee being paid in advance) then you are probably not due any form of refund. The nominee, after all, has done his job, for work leading up to the creditors meeting - things just seem to have gone pear shaped since the meeting.

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

[tracy.h]

Thank you melanie ,i can honestley tell you that i made it clear selling my house was never an option,i mean to sell my house i would have pettitioned my own bankrupcey,it would have been a lot cheaper and saved all this stress.I never had any problem with my ip or his team they were very helpful,as you say there has been a mix up.I still have the modifications here to sign,and i no that telephone conversations are recorded,so if i had agreed to sell my home ,and then out of the blue change my mind i no they would have evidence of a conversation of me agreeing to the 61 modifications.I also no that i am on the register ,its such a mess after all these months of waiting,i dont no the way forward do we try for another iva or debt management jst while we sort ourselfs out.Oh and ive just recieved a cheque with a full refund,any advice would be very welcome?

[tracy.h]

HI EVERY ONE HAS ANY ONE GOT ANY INFORMATION ON A COMPANY CALLED PAYPLAN?HAVE SPOKEN TO THEM AND THEY THINK THEY CAN HELP

[go_4_broke]

Hi Tracy

I think Payplan is quite a large provider of DMP's (Debt Management Plans).

Might be useful if you could post what type of 'help' is being offered.

-Best

'5 years sticking my head into the Lion's mouth of debt !'

[tracy.h]

HI FEELIN A LITTLE BIT INVISABLE,LIKE EVERYINE ELSE AM FEELING REALLY LOW RIGHT NOW,CAN I GIVE YOU A BIT OF HISTORY.hAVE BEEN QUITE ILL FOR A LONG TIME NOW, HAD TO GO PART TIME AT WORK 5YRS AGO HAVE A KIDNEY PROBLEM DIDNT REALISE IT WOULD START TO DETERIATE AS QUICK AS IT HAS,AFTER 9 OPS COULDNT CARRY ON WITH FULL TIME JOB. OBVIOUSLY WITH AMOUNT OF CREDIT WE HAD EVEN THEN WE KEPT TOPPIN UP TO MAINTAIN OUR PAYMENTS BUT IT JST BECOMES A JUNGLE DECIDING WHAT CREDIT CARD TO USE NEXT.I THINK EVENTUALLY AROUND LAST SEPTEMBER AFTER ANOTHER STAY IN HOSPITAL WE REALISED THINGS WERE NOT GOING TO IMPROVE SO WE SOUGHT ADVICE ON LINE,AS FINALLY ALL CREDIT WAS AT ITS LIMIT.IMAGINE WE FOUND A COMPANY THAT OFFERED US THE CHANCE TO FINALY SORT OUT OUR DEBTS AS YOU ALL NO ITS SUCH A RELIEF IST CREDITORS MEETING NORTHERN ROCK SAID NO WAY AS WE HADNT HAD OUR LOAN A YEAR SO IP WAS SO POSITVE IF WE RESUBMITTED IN 3 MONTHS TIME IT WOULD BE SUCCESSFUL.OUR PROPOSAL WAS THAT WE WOULD PAY £500 A MONTH THEN IN YEAR 5 RELEASE EQUITY AS LONG AS WE COULD KEEP OUR HOME FOR US THAT WAS GREAT IT MIGHT NOT BE MUCH BUT ITS OURS.THE NEXT CREDITORS MEETING ANOTHER COMPANY WHO DIDNT VOTE PREVIOUSLY ALL OF A SUDDEN VOTED AND WANTED US TO IMMEDIATLEY SELL OUR HOUSE WAS SHOCKED AS THERE IS HARDLY ANY EQUITY IN IT AND ITS GOT MODIFICATIONS DONE TO SUPPORT MY ILLNESS.SPOKE TO IP AND WAS ASSURED WE WOULD NOT HAVE TO SELL HOUSE THEN ALL OF A SUDDEN ON THE LAST DAY OF TWO WEEK ADJOURNMENT I RING IP AND THEY TELL ME IVA EXCEPTED WELL THE RELIEF AS ANY ONE WITH A SUCSSESSFUL IVA WAS AMAZEING,COULDNT BELIEVE IT WHEN 4 DAYS LATER A NEW PROPOSAL LANDS ON THE MAT WITH 61 MODIFICATIONS THE 1ST WE HAD TO IMMEDIATLEY SELL OUR HOME,WE ARE STILL REELING FROM THE SHOCK,I SOPPOSE YOU JST HAVE TO CARRY ON AT THE MOMENT WE ARE TRYING TO SORT THIS OUT AND JOINING THE FORUM HAS REALLY HEIPED ME THE SUPPORT PEOPLE GET IS GREAT AND KEEPS PEOPLE GOING.wE WILL KEEP GOING AND IF WE HAVE TO LOOSE OUR HOME THEN THATS WHAT WE HAVE TO DO BUT IF ANY ONE HAS ANY WORDS OF SUPPORT THEN WOULD LOVE TO HEAR FROM YOU X

[tracy.h]

tHANKS FOR REPLYING THEY ARE SAYING THAT IF THEY TRY FOR ANOTHER IVA AND EXPLAIN LEVEL OF ILLNESS THAT WASNT PREVIOUSLY DONE MAYBE CREDITORS MIGHT BE A BIT MORE SYMPATHETIC.TO BE HONEST GO4 BROKE WE ARE GETTIN DESPERATE X

[tracy.h]

did anyone have any information on payplan,its just they have said they may be able to help and am obviosly feeling a bit nervous,need a good firm

[scaredkez]

tracey i am sorry about your illness but stressing is not helping you at all, i know how you feel have been there to, you need to concentrate on number 1 yourself at the minute, as i have previously said in another post you owe money not your life.
i wish i could wave a magic wand for you and all this mess would be gone but unfortunately i can't, whatever happens you will be able to start again, you are facing up to your debts and you should be commended for that, in regards to your home i know how you feel i will be losing mine due to BR and i am afraid of where i end up as letting agencies ask for 6 months rent up front which is something i couldn;t possibly afford and the local council list is 12 yrs, i know when you get your creditors meeting you feel it is all going to be sorted and then hurdles are put in your way, maybe once your illness has been explained they may be a bit more lenient with you, you will never know if you don;t try, please keep posting even if it is just for a rant or chat many of us are here at all different times and will try and help, reassure and empathise with you we have all been there.
take care of yourself and i will be thinking of you and crossing my fingers a solution comes good for you soon
kerri

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

[tracy.h]

Thank you kerri that means so much comeing from you. I think you and Skippy are so braveI CAN ONLY BLAME MY ILLNESS SO MUCH I CANT USE IT AS THE SOLE REASON THAT WE GOT IN TROUBLE.SORRY BOUT CAPITALS 4GOT TO PUT CAPS OF.AS YOU SAID I REALLY DO WISH I ALSO HAD A WAND , WHEN YOU SEE HOW MANY PEOPLE ARE SUFFERING,AND RAESON I DONT THINK IS IMPORTANT,ITS WHAT DEBT DOES TO PEOPLE THAT COUNTS ID WAVE IT,BUT AS YOU NO ITS ONLY US THAT CAN MAKE THAT FINAL DESISCION,AND I COMMEND YOU FOR BEING SO BRAVE.I WILL BE THINKING OF YOU AND YOUR FAMILY,AND THANKS AGAIN FOR YOUR KIND WORDS GOD BLESS XX

[scaredkez]

thanks tracey for your kind words, you are right its not about how we ended up here but the fact we are big enough to admit we have a problem that needs sorted, i am now 9 months down the road of dealing with this and although it has been very rocky i am looking forward to bringing a closure, if it hadn;t been for the love of a good family and the support from the people on here, many who have become friends i couldn't have coped, debt certainly is a horrible thing and you donot realise what it does to you, i wish you luck and hope to see your posts, join in in the chat corner also with us even if it just takes your mind off what you are going through for a while, i will be posting about my BR also to let everyone know what it is like and how i feel.
take care
kerri

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

[freelili]

Hello Tracey

Just beem reading this thread, Kerri is right you need to be thinking of yourself right now and yes she is really brave, its been a long haul and its not over yet for her.

I dont know if I have this wrong but why would your IP take three monts to get a new creditors meeting? Were you paying for the IVA durung this time and what company were/are you with, it also seems really strange that you are told to sell your house, thats the main reason people enter an IVA to protect their assets. I do not know much, but all this seems a bit dodgy to me and it also seems like the only people who have gained here are the IP company while you are being left to suffer and worry. Does anyone else agree? or do I have the wrong end of a stick?

Tracey, I wish you all the luck, I really do and I feel for you right now.

LILY

I asked God for a solution and have to live with his reply.

[scaredkez]

lily i agree with you many go for the iva in hope to retain their home, instead of BR
tracey certainly does need to know where her money is going, we all know i have been there and the IP pocketed the lot so i would advise tracey also to find out what has happened to the monies already paid.
3 momths is a long time also and i hope tracey can get a closure on this also, have you tried a 2nd opinion?
who are you with now please donot say synergi!
but reading her posts anyway her ip is in the wrong for accepting modifications on her behalf if she never signed and agreed to them this is what she needs sorting,
kerri

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

[MelanieGiles]

Hi Tracy

I am glad to see that your IP has refunded the money due to you. Presumably they are also writing to the Registrar of Individual Voluntary Arrangments, the Court and all of your creditors to point out the mistake in accepting the modifications. You should check that this is in hand.

Personally, I would not try another IVA at this point in time. I suggest you look at a DMP for six months to see whether Northern Rock amend their voting policy at all. The uncertainty is causing you unecessary stress at the moment.

Can you remind me what your house was valued at, how much the existing mortgage is and the level of all of your creditors.

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

[tracy.h]

Hi lily and kerri,at the mo have Big dispute going on with ip.Was happy to sign a proposal to pay £500 a month plus release equity at the end of arrangement if you go to my first post you will understand we never agreed to sell our house, i would have gone BR the ip was informed of this throughout.I can honestley say i never doubted them, they agreed that it would not be feasable,so at the second creditors meeting when KPMG came forward who didnt vote the first time and said we had to sell.There was no way we would agree.My ip was aware the whole time of our assossiation that that was not an option,so when the 2nd creditors meeting was adjourned because of this modification i was assured that i would not have to sell my home i agreed thinking as you do that it would be the same proposal as before so i was happy.Iwas only when i got the new propoal through tht had all these [61] modifications that i realised they had exceoted with out actually telling me.the sad thing is and i actually taped this conversation with the person i had dealt with she said it didnt matter if we signed or not tha iva had already been excepted.I then put a letter of complaint in and immediatley she rang me and said ok she agreed they hadnt explained the modifications and they would let creditors no.The next thing i have a certificate of non compliance to say we have failed our iva. I have emailed and asked how they can fail a iva that was never signed or agreed by us im still waiting for a reply.We recieved all the money back we have paid yesterday but as far as they are concerned the iva has failed.Thats not good for us we are on the register.I have put a full complaint in to the ipa and acompany has said they will represent us.I think my stress levels are at there limit my partner doesnt really understand so i deal with it all,i soppose really thats my own fault as i have always dealt with everything thats why its so good to have your support,so tomorrow is yet another day waiting for the phone to start ringing again as now we have no protection.I feel so alone as i havnt told any one i feel a complete failure.Thanks for replying the support means so much i no that you have your own problems,and i appreciate your timexx