I am struggling from month to month. Help please !

[kane21205]

What hepl can i get?? i am currently into the 3rd year of my IVA however i have found as the cost of living rises and my wages dont (i work part time, i am a single mum of 4). I spoke to someone from my IVA company about the difficulties and they said they would contact me back and 2 month on i am still waiting. My income and expenditure that is held my my IVA company show that i am receiving 198 pound more each month than i am acctually receiving (tax credits). i am afraid as to what is going to happen as i am struggling from month to month to month financialy but also impacting on my mental health.... Help please !!

[luluj]

Hi - you really need to contact your IP again and insist on a full review of your case. Your income and expenditure needs to be realistic and may need to be changed to ensure your living standard is comfortable whilst you remain in your IVA.
Give them a call on Monday, and if need be call them everyday until it is sorted.

Which company are you with ? Sometimes they post on here and they may be able to offer some additional support.

[plasticdaft]

Can you afford to carry on making a payment,even at a reduced rate?

Paul

[MRBLUESKY]

Hi agree with posters,you need to contact your IP ,dont be put off waiting,which company are you with.Reduced payments now could be a solution to make things more comfortable,any shortfall could be tagged on the end of your IVA,with a variation.However like Paul says can you afford to make reduced payments,There maybe a chance of creditors accepting your paynents already made as a final settlement,if you can,t cope.

[kallis3]

You definitely need tgo speak to your IP as soon as possible. I am sure there will be a solution for you and that's what they are there for.

You should insist that your I&E is reviewed and keep phoning them until you get someone to look at it for you.

[kane21205]

Thanks peeps for ur replies. I am with Freeman jones, I have written to them outlining my problems. I could afford reduced payments which I asked for at the beginning of January and was told someone would contact me within 3 days!!! Still waiting !!! I can't even afford for my kids to stay for school lunches as I simply cannot afford it. I explained this too but no one seems bothered as long as I am maintaining my payments, which I am !

[kallis3]

Keep pestering them kane!! Try emailing your IP directly via this link:

http://www.insolvencydirect.bis.gov.uk/fip1/

You may find something gets done.

[kane21205]

Thanks for the link I tried to look for an email address on my correspondence but couldn't find one! I mentioned to them that I had thought of bankruptcy because I am desperate and the woman I spoke to just said that my petition might not be accepted!

[kallis3]

If you let your IVA fail by missing three payments because you simply cannot afford the repayments then there is no reason why you cannot petition for bankruptcy. You would just have to save up the fees which are currently £700.

Can you afford to make any reduced payments to your IVA? How much do you think you could afford to pay? Do you have any assets that would be affected by bankruptcy such as a house?

It would be a shame for it to fail now after you have come so far.

[Broke of London]

I had a dark hour at the end of last year and spoke to my IP firm about BR and got the same waffle - don't listen to them as it's just scare tactics to keep you in the iva. If your revised income and expenditure calculations show the iva is unaffordable, you may qualify for a debt relief order. Also worth investigating before jumping into BR. A chat to your IP and getting the revised income/expenditure figures together is the best option in the first instance. x

[kallis3]

How much disposable income do you feel you have?

[Financial Wellness]

Hello, thanks for your post Kane

I am sorry we've not been very responsive on this. Please do give us a call today. If you ask to speak to Steve Grogan he is expecting your call. If it goes through to his voicemail please do leave a message and he'll call you straight back.

We'll move as quickly as we can to sort this out for you.




Ian

[kane21205]

Hi all, feeling more optimistic after speaking to FJ advisor. I will keep you posted of the outcome but I am hoping for a happy ending.

[kallis3]

Glad you're feeling better. Fingers crossed that everything works out ol

[plasticdaft]

Glad they have finally got around to contacting you.

Paul