Current IVA, not sure if its for me

[catullus]

Catullus is a he, and he's all in favour of lively debate!

And best of luck Jhonnie

[Jhonnie]

Hi Lily

Thank you for that. I do feel so much better than i did yesterday. It still worries me beacuse its the unknown and going through all the form filling again and th ewhole court thing too, but i have a partner now and he is being very supportive, i guess im lucky.

Cheers

Jhonnie

[Jhonnie]

Hi Catullus

I guessed you were and i like your honest frank approach.

Cheers

Jhonnie

[lily]

Sorry Mr catullus.

Jhonnie ( I actually thought you were male) There are plenty of people here who have been through the process and will offer support, I know its daunting and scary but think of it as a journey to a better life. I was going to go BR in January but my circumstances changed 10 days before the date.

lily

[Jhonnie]

Hi Catullus

That should of said i guessed you were a he.

Cheers

Jhonnie

[Jhonnie]

Hi Lily

I am male, Im gay.

Im glad your circumstances changed and that you are sorted.

Cheers

Jhonnie

[mish1953]

J - ask away ..

Mish as in Hamish the daft scotsman
Now BR for one month

[lily]

Sorry I didnt think jhonnie

Not quite sorted yet though

lily

[jane.l]

I will be bankrupt soon and I am terrified!! I don’t know where I would be without reading this forum over the last few months! I rang an IVA company in desperation when we could not sell our house and realised the mess we were in financially.
I believed the IVA company when they were confident they could help us. They too
“ massaged” figures to fit and that DID worry me but was told it would be ok!

I rang them as there was one bill we had forgotten to tell them about and they said “well, you’re already pushing it, can you not borrow this money off someone??” Alarm bells began to ring then and from reading this site, I realised have no other option but bankruptcy!

I cannot believe at my age, (late-30s) I have lost my home, car and are to become bankrupt but I am hoping it will be a new start, a second chance at life!

[Jhonnie]

Lily

No need to apologise, glad youre on your way though.

J

[Jhonnie]

Mish

Was the judge understanding? Did your payments come down quite a lot?

J

[Jhonnie]

Jane

Take it as a new start, think how much better you will feel afterwards.

Jhonnie

[mish1953]

J
you will only see the judge for a few minutes, and yes he was understanding, he mainly wanted to make sure that I had taken some financial advice and that I understood the implications for my house etc.
Re - payments, I wasn't in an IVA - I skipped that stage - and went straight into BR .. I had discussed it with Payplan, and thourghly read up on BR , what it meant, the process etc .
The insolvency service - aka the official receiver ( OR ) will appoint someone in their organisation to look at the case - they are civil servants and have nothing to do with your creditors, I have found them to be very nice and supportive.
You need to have a good look at you income and expenditure ( I&E ) if your surplus is over £100 then they will take some money off you - my surplus is £160 and they take £80 a month off me for 3 years.

Slainge
MIsh

[mish1953]

Jane
I know its not easy, I was kacking mesel when I went BR - the process is not painful and generally the court staff, OR staff etc were all very nice, didnt give me any grief.

BTW - Im nearly 54 and a full time single dad, with a 14 yr daughter, as well as in full time work... I didnt expect to be here either !

I have NO debt, at all, none !
which is a great relief now Im worried about my house which will be taken away as it has 20k equity - renting when you are BR is not easy .. I need to sort out a roof for me and my 14yr old -- ho hum Im good a worrying

Slainge
Mish

[mish1953]

A word about BR

Folks if you are going BR be damn sure thats what you need to do.

Yes the OR and court staff are nice, but here are implications for property, cars etc - dont worry about your personal goods unless you have some works of art at home .

Some people are ok with BR some aren't - most of us on here have found some family/friends/co-workers that have been unpleasent about it .

There is still some social stigma with BR and you need to be aware of that, your credit rating will go down the pan !

Im still happy ... I have no debt !

Illegitimus non carborundum

Mish