I need some serious advice

[theresajadams1984]

Last July, i took out and IVA with debtmatters, months after my creditors agreed to the IVA i was still recieving phone calls and letters threating court action, i even got a CCJ filed against my name, which still Debmatters have not sorted out.

Then about September time, i phoned my IP at Debtmatters and explained i was having some problems with my bank and she said "no worried dont pay us this month and cancel the standing order then phone and we can set it up again the following month" (strange but i did what she said) anyway, i tried to phone DM about 5 times to set up the standing order again and never managed to speak to my IP, now i have recieved a letter from them saying my IVA has failed and 2 letters from different creditors filing for Bankrupcy!!!

im really panicked about this and need some help

Thanks

[theresajadams1984]

Please can someone offer me some advice, im desperate.

[:(]

[Jo Rolland]

If it was a Standing Order, you could have reinstated this yourself direct with your bank as it is an order from you to your bank.

Have you not made payments since September?

Jo Rolland
Debt Alternatives
www.debtalternatives.co.uk

[carlmcmullen]

Hi

You can check the insolvency register at http://www.insolvency.gov.uk/bankruptcy ... search.htm to see if your IVA has been failed - if your not on the register then yes it has failed.

Have you spoken with your creditors who want to petition for your banrkuptcy as often they will accept a reduced payment.

Have you tried speaking with DM to see if the VA can be saved ?

However if your IVA has failed you can enter into another IVA but you would have to start from scratch again, and if a creditor is going to petition for your bankrutpcy then you need to act fast so an Interim Order can be put in place to stop this whilst an IVA is approved.

Carl

[Jo Rolland]

I think the priority here is to try to save this IVA. Not think about entering another, as I do not think this would be a possibility.

Jo Rolland
Debt Alternatives
www.debtalternatives.co.uk

[Jo Rolland]

Theresa, what does the letter you have received from DM say? Also is this the first letter you have received from them regarding missing payments?

Jo Rolland
Debt Alternatives
www.debtalternatives.co.uk

[ianmillington]

I agree, particularly as according to the DTI the IVA is still open! Specifically what does the letter say, given that they say it has "failed" rather than "terminated".

Ian

Help is at Hand!

[theresajadams1984]

I have just had a lengly discussion with debtmatters and they are going to arrange a meeting with my creditors to discuss an agreed payment increase or a longer term.

Thanks for your help.

[ianmillington]

That's what I hoped they would say.

Good luck - hopefully you'll rescue it.

Help is at Hand!

[Jo Rolland]

Good luck Theresa, hope it all goes well [:)]

Jo Rolland
Debt Alternatives
www.debtalternatives.co.uk