i want to take out an iva but its a bit scary

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claire.o

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Post by claire.o » Wed Jul 30, 2008 4:37 pm
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if i have an iva but loose my job, or my partner stops working, so i can no longer affors 200 a month what will happen to me then i want to take out an iva but its a bit scary
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Viki.W

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Post by Viki.W » Wed Jul 30, 2008 4:59 pm
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Hey Claire, welcome to the forum. It must seem really scary. If you lose your job and don't find another one then your IVA may fail. However, unless you know for sure that you or your partner's job is under threat then that may never happen and an IVA may be the best solution for you. Who told you that you would pay £ 200?

If you'd like to post a few details, the experts are here to help and we're all here to support you. Don't forget, there are other options. X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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kallis3

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Post by kallis3 » Wed Jul 30, 2008 5:05 pm
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Welcome from me too Claire. You will get the right advice and support on here.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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debtmountain

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Post by debtmountain » Wed Jul 30, 2008 5:18 pm
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Welcome from me too, Claire[:D]

xx
IVA accepted 13/11/2008..17 payments down,55 to go..
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size5

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Post by size5 » Wed Jul 30, 2008 5:19 pm
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Viki is right. Unless you know specifically in advance as to any job volatility or redundancies etc, then you can only be advised as to the right course of action for the circumstances that exist right now. If that is IVA then so be it, but you need to speak to someone directly to put all these questions face to face as it were, assuming you have not already done so.

You may wish to visit www.iva.com and have a look round at the reviews etc, certainly you need to speak to 2 or 3 different providers.

Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself

Follow my tweets at http://twitter.com/debtmastersize5
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john.jk

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Post by john.jk » Wed Jul 30, 2008 8:05 pm
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Hi Claire
We have all been there.... WHAT DO WE DO ??
you are in the right place to get advice and it costs nothing to ask questions..
Everbody on this site will have been in your position in the early days
So keep your chin up and ask away....
xx
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Adam Davies

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Post by Adam Davies » Wed Jul 30, 2008 8:14 pm
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Hi Clair
You will basically be back to square one if your IVA fails.It is unlikely that your creditors would bankrupt you.
If you lose your job then your IP may well grant a payment break for you whilst you find a new job
Regards
Andam Davies
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tori

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Post by tori » Wed Jul 30, 2008 8:30 pm
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hi claire & welcome from me also.an iva can seem like a scary thing to go into & believe me i was petrified when i took the first step&sought help for my debt problem,but if your circumstances enable you to do an iva then it could be the best thing you ever do.i know it was definitely the best thing i ever did.& although it can be a bit daunting at 1st,you soon start to feel more at ease once all your options have been explained to you,&you realise that there is a solution to sort out your problem.x[:D][:D]
please visit my blog http://tori.blogs.iva.co.uk/ a second chance..
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MelanieGiles

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Post by MelanieGiles » Wed Jul 30, 2008 8:49 pm
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Hi Claire

£200 per month for an IVA is a little low, but if your debts are relatively low and you have found an IP to act for you on that basis then there is no reason why you should not give the procedure a go.

No-one ever enters into an IVA with sufficient foresight to know exactly how things will turn out, but with a good IP behind you temporary difficulties are easily resolved.

Have you also considered bankruptcy proceedings as an alternative?
Regards, Melanie Giles, Insolvency Practitioner
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