It just keeps getting worse!

[gill.p]

I have been told that their is a very good chance of a closure and redundancy is evitable a my work.

I would imagine this would then mean myself and my husband will fail the IVA!and forced into bankruptcy!

and then

how do you ever get to rent a property with a bad credit record?

I was just about accepting life in my IVA and everything was going absolutely fine, and then I get the next brick thrown at me.

I have so many worries, from how much is Job seekers allowance? and what benefits would i be entitled too whilst looking for work to where on earth are we going to live?

I desperately didnt want to loose my home, the light at the end of the tunnel has dissappeared and I really feel like giving up!

I just can't stop worrying.

[Adam Davies]

Hi
What a worry for you both.
Your IP can give you a payment break whilst youseek work, upto three months.Fingers crossed you will be able to find something else.
Keep your IP in the loop and good luck
Regards

[gill.p]

With the current climate and continuous job losses, would 3 months be the longest break and then is my only option bankruptcy? And again, how does anyone rent with a bad credit rating these days?

[Julie]

So sorry to hear of your news - will you get any redundancy?

If you're out of work, then you'll be entilted to housing benefit to help with rent. Do you know for definite you would lose your home? Even if you go BR there are some cases where you can keep your home.

I know its hard for you at the moment, but try not to panic. There will be a solution. Why not email you're IP so they're aware of whats happening. Hopefully, they'll be able to put your mind at rest on the payment breaks.

xx

[Skippy]

I'm so sorry to hear that Gill. As the others have said speak to your IP and don't give up xxx

[jojo]

Hi Gill.P, I'm in pretty much a similar situation as you. Apply as soon as possible for job seekers and housing benefit as they are very busy right now and it's taken ages to get our claims sorted. We rent too, but I can say if you are honest with your landlord and let them know whats happening they can surprise you and be very helpful. Facing bankruptcy too and I'm also worried about being able to rent but I find writing a list of priorities and things to sort out has helped and the solutuons start to come.
Try not to worry and work your way through it.

[Shining]

Hi Gill, can only repeat what others have said, keep your IP in the loop and I truly hope things work out for you both. x

[debtmountain]

Hi Gill,

So sorry to hear this and I hope that you manage to speak with your IP very soon and get a payment break sorted..Try and stay positive for now,if you get the payment break,hopefully this will help you for a couple of months until you find another job..There will be a solution for you so try not to worry at the moment..Take care..xx

[Viki.W]

I'm really sorry gill, that's awful. I hope it doesn't happen, thinking of you both. X

[gill.p]

Thanks for your replies, I dont rent at the moment, however if I had to go bankrupt, i was just wondering how easy is it to rent a property with bad credit.

I hope it wont come to that, With payment breaks, redundancy payout and iva payment breaks, I would hope that I could get something to tide us over,. problem is I was on a very good wage for a local company, and cant see me getting that again, if anything at the moment with jobs so far and few in between.

[Skippy]

Going BR doesn't necessarily mean that you'll lose your home. Is there any equity in the property? If the property is in negative equity you can buy back the beneficial interest for a nominal sum of £1 plus solicitors costs (£210 I think). If there is equity a family member or friend can make an offer to the OR for the beneficial interest.

[MelanieGiles]

I have just varied one of my clients for a break of up to 12 months to allow her to find a new job. Creditors are sympathetic to this at the moment in light of the economic climate.

[gill.p]

Thanks Melanie, that puts my mind at rest, I am sure I would eventually get work, but as things are at the moment, I am sure it is not that easy! We could manage with benefits etc.. and my redundancy for a few months, so perhaps things are not too bleak!

[Julie]

You're "sounding" more positive Gill...try not to keep that way and enjoy Christmas.

xx

[David Mond]

Melanie is right- most creditors are very sympathetic to these new problems - your IP should be forewarned as soon as possible that you might face redundancy. He/she at that time should propose a variation for a reasonable period until you find new work. Don't worry too much - your position at the moment regretably is not unique. Good luck.