Getting back on track

[Skippy]

After speaking to my IP again last night and making the decision to petition BR I actually feel relieved. I'm not proud that I am going to be made BR, but as far as I can see there is no other way out of this mess. I was advised that my creditors wouldn't accept a variation as I was only 4 months into the IVA, and 2 of my modifications were a) no variations in the first 24 months and b) my contributions cannot go below 27p in the pound - basically I was stuffed! I've felt ill today with a really pounding headache, but I think it's relief rather than stress!

I have no property, and while it could be argued that I have an interest in Dave's property I have only been here a year, and I have never actually paid him the amount that we agreed, so hopefully that won't be a problem. I may lose my car, but my uncle may give me the money to keep it, although that obviously depends on how much it would be, and I would want to repay him at the end. If it's too much I'll let the car go and get a cheaper (although probably less economical!) one. There'll be other cars, but I've only got one life and I need to sort it out. I'm 32 in a couple of weeks, and I want to be on the way to sorting myself out by the time I'm 33.

The one downside is that due to the size of my debt I'll probably be subject to a bankruptcy restriction order, but hey ho, I've never had any ambitions to serve the public in any way, shape or form!

Thank you to everyone for all the support and kind words over the last few months. It's not been easy for any of us, and I really appreciate the help and advice I have been given. I've just realised this sounds like goodbye, but it's not. You won't get rid of me that easily - I'll need your help, advice and humour over the next few months!

Thanks to everyone, and good luck to everyone with IVA's, and those who are joining me in bankruptcy.
Love Tracey xxx

Onwards and upwards!!!
View my blog at: http://skippy13.blogs.iva.co.uk/

[DebtDummy]

skippy13, it's not the size of the debt that gets you a BRO it's how you accumulated the debt. Were you reckless?
Did you gamble? Did you accumulate debt knowing you were not going to pay it back? Don't worry about getting a BRO(smile).

I am sorry your IVA didn't work out as you had planned.
Sometimes, things in life do not go as we plan them.
However, you do seem committed to petitioning for bankruptcy;and that is half the battle. The other half is filling in that bankruptcy application!

I wish you success towards your debt free future.
Bankruptcies are not what they use to be. Those days of name and shame are long gone. Well, since 2004 anyway.
Once discharged, usually 12 months if not sooner you will feel like a new woman.

As Nina Simone sings,'' It's a new day, a new dawn and you're feeling good.''

All I have left is my humour.

[Skippy]

Thanks for that DD. I suppose they could argue that I've been reckless accruing £65k debt by the time I was 32, but I'll just have to wait and see.

I am definitely committed to bankruptcy (Dave has often said I should be committed, but I don't think it's the same thing!) and I have completed 90% of the forms online - I'm just trying to get the remaining information.

I am planning on going to court at the beginning of May, although depending on how Dave's work is going (he's self employed) I might go in April as you don't have to make an appointment at my local court. I want Dave to go with me as I need the moral support!

Onwards and upwards!!!
View my blog at: http://skippy13.blogs.iva.co.uk/

[freelili]

Hi Skippy

There are two ways to look at your 'problem'. Yes you are only young and you must have suffered for your 'recklessness' (your word not mine). whats the worst that can happen?
However, being so young you can start again, take the moral support, you will feel better after this and can look onwards on upwards (your words again) to a brand new life. All it takes is a rubber stamp.
Good luck Skippy.

LILY