Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
I also think you need to have a confidential discussion with your HRD regarding your status at work. If, as you say, an IVA precludes you from doing your present job (which surprises me a great deal)is there not a possibility of transferring to a different job? I've never heard of anyone being sacked from the Civil Service for taking out an IVA and there are lots and lots of Civil Servants in an IVA.
And I also know quite a few Civil Servants who are bankrupt as well - I do not think that this brings instant dismissal these days, but is clearly restrictive for certain posts.
I just want to know when I get my chance for a hearing to pay affordable repayments. I just can't believe they do it without notifying me of a time/date etc.
When we got a ccj and the payment the company was asking for was too much. We immediately on recepit of the installment order rang the local county court and organised a redetermination meeting. The creditor didn't turn up and so the court agreed with our offer of payment and we have kept to this. The problem we now have is the creditor is now trying too get the installment order overturned to a forthwith so they can get a charging order. The hearing for this is not until March but we will be fighting it as i don't see why they should get a charging order when we have kept up with the order by the court.
I do eventually want to do an Iva but at the moment this avenue is not appropiate all other creditors have frozen interest and charges and we never hear from them. The dmp company I am with is CCCS and I have followed all their advice and upto yet it has all worked out.
So sorry to see you are in a dark place at the moment, please get some appropriate support for your own health.
If it helps my hubby is a civil servant working for the prison service. we thought bankrupcy/IVA would end his career as this is what is in his principle statement of terms and conditions, however after chatting with a 'friend' from HR apparently they now take a much more sympathetic view.
May be worth checking this out if you can.
Please try not to worry, our circumstances were quite complex however Melanie Giles helped us to propose an IVA and this was approved recently.
Never give up hope, Debt is all consuming but there are solutions and we are all here to support you.
XXX
7 down 53 to go
The pedal uphill may be hard but remember once you reach the top you can take your feet off and freewheel all the way down!!!
Ultimately it will be with the Judge to decide what is fair or not.
However this will not stop Link securing the debt against the house, and continue to charge you interest.
Really recommend you speak to an IP on Monday.
If I am free on the court day I will happliy attend court with you to help stave off Link ( don't particularly like them !), BUT you must speak to an IP on Monday.
Incidentally we would't charge for the court appearance - sometimes folk just need a little leg up.
Paul Johns
Reviva UK
Assisted Bankruptcy Specialists www.revivauk.com
I agree that you have to speak to a professional. If you visit the experts page on the left hand side of the forum, you will see several professionals who post on here. Give one of them a ring, or visit www.iva.com. You do need advice as soon as possible.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
The thing is if we can afford an instalment plan on the CCJ, we can be ok as I'm due a payrise in a few months. If we can avoid an IVA or BR we will. We don't care if it takes us years, we just want to know whats what with the CCJ as so far it seems to have contradicted everything even the court advised.
If a charging order is put in place eventually, does this mean it just freezes until we sell our house, or that they still get paid by us each month, but if we don't they can force us to sell?
Yes you will still have to pay each month a figure that will be decided by the court and if your circumstances change you will still be able to apply to the court to have these payments varied by a variation order.
If you do not maintain the payments ordered by the court the creditor could try for a forced sale but this is very rare and the decision would remain with the judge to grant and they would need to be assured that by forcing a sale it would allow the creditor to be paid out with the equity otherwise it is pointless as the creditor would be back in the same position as when they started the process.
They then have priority of payment after secured creditors have been paid - hence any surplus from sale of house will go to them in settlement of their debt - limited to whatever is owed to them.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
I would hate to think that I had given wrong advice to somebody. Am i right in thinking that forced order of sales are very rare and that there are many factors that have to be taken into consideration the primary one is there enough equity in the property to cover both the mortgage and any secured borrowings.
Also if a charging order is granted you can still vary the payments if needed if your income is reduced etc.
Orders for sale, based upon secondary lending - including charging orders - are very rare if the property owner is making best efforts to repay the debt based upon their affordability.
You can vary upwards the repayments under a charging order at any time.
