Help/Advice please

[dips]

yeah i would pefer the IVA but i don't know what else to do if my IP are not being helpful, i don't want to be bankrupt if it can be avoided.

[sonyse2t5]

A DMP is not necessarily a bad resort.Your payments will be affordable than now and depending on your debt size, it may take longer to pay it off. But you'll be on a sustainable level of income and raising that to a higher level in the future.Its all very flexible.

It is ashame if the IVA have to end now given the payments gone into it and you 'I think' probably lose the ££ you have paid as they woundn't be subtracted from the debt??

Give CCCS a ring, a respected national free DMP company based in Leeds don't go to a fee charging firm

[dips]

ok i have just called CCCS and was adivised

"because you entered into a legally binding contract with your creditors through your IVA we cannot discuss this matter with you , you have to speak to your IP, you agreed to pay a fixed sum to them and this is what is at dispute, we cannot discuss this further i;m sorry....."

ever feel like its a conspiracy against you

[sonyse2t5]

Dips,
CCCs is playing by the book and so don't want to seen to be meddling in an existing IVA, so thats understandable.

Finalise the IVA outcome first....you still should try to save the IVA.....only when it looks hopeless and foreclosure is eminent, contact your creditors to say you want to do a DMP through CCCS.They'll be calling you anyway. Then call CCCs and you don't even have to say the IVA failed, as you will by then not tied to any payment contract.

Good luck

[Skippy]

It's a shame they couldn't offer any advice though as they are supposed to be unbiased. I presume it's got nothing to do with the fact that they are funded by creditors and therefore wouldn't recommend lower payments?

If I were you Dips I would try and get an appointment at your local CAB.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[aguise]

Dips
Is your wife returning to work after. Could you not ask your Ip for a variation to reduce payments for the time she is off and add a few payments on the end of the iva to make up the shortfall, or maybe reduce the amount for the iva and pay for another 12 months.
I think that is allowed.

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[Adam Davies]

Hi
You should speak directly with your IP,at the end of the day it's not your IP's decision but your creditors and they no nothing about it at the moment.
Ask your IP to call a variation meeting requesting your payments are lowered to £200 until your partner goes back to work.Also could you hold off moving for a year ?
regards
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

I don;t think that your IP is necessarily being unhelpful to you, by sending you the bankruptcy booklet. Perhaps he/she feels that you ought to reflect on your situation in the long term and have a long hard think about the future.

A meeting with the IP would be preferable in order to explore all options, but you would firstly be wise to map out your monthly income and expenditure for the next year or so to ensure that if you intend to make a variation offer that the payments are actually affordable.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[dips]

thats it now i need to decide weather to take the bankruptcy or try debt management?

which way do i choose, i wanna eventually buy a house but stuck at the moment.

I have no assests at the moment so is BR such a bad option? or go with a debt management company to negoiate my debt down and pay what i can afford ?

[Andrew Graveson]

Hi dips,
There are positives and negatives to debt management. If you decide to investigate that option be sure to speak to an organisation that presents you with both sides of the coin.

Andrew Graveson
Independent Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

[dips]

ok I may be able to raise a lump sum from my parents to pay off this IVA, now the only problem is it may take a couple/few months to organise the money and I need to move house and cannot afford to pay the IVA and the new rent. Along with this I need to start purchasing baby products for the new arrival.

options, do I not pay the IVA (miss payments and then pay a lump sum to them later on) I think after three missed payments they fail the IVA?

if I need more time and the IVA cannot help do I move into debt management and then ask them to negotiate the settlement figures with my creditors ?

or if I petition for my bankruptcy do they give you a chance to make a lump sum payment to avoid bankruptcy

note parents will only loan money to pay off debts just need more time

what to do ??

[Adam Davies]

Hi
I would write to your IP and ask for a payment break whilst you move house and ask them to suggest a full and final settlement figure with a view to proposing a variation meeting in three months time to propose this.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp