my long running saga!!!!

[scaredkez]

i understand jane, and thats why you really need to know you are doing the right thing and the timing also, i really hope you can get it sorted soon, will northern rock not start repossession proceedings as you have missed 3 months mortgage? i do feel for you and wish this nightmare was over.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[tracy.h]

Hi Jane,i really do feel for you and can understand where you are coming from.
I myself have had a nasty experience and like yourself am wary of how to proceed.I know by paying my creditors token payments i am just putting of the inevitable,but i need to be certain that all the stress of proposing another iva is the right way forward,so jane you must do what you feel is right and as Kerri said i hope you will get the answers you need soon,and this nightmare will end,please take care and keep posting
Tracy

[Andy2]

To be honest there is no REAL rush to declare BR straight away - events will take their turn (and toll). You are out of the house and renting elsewhere. The house will eventually be sold and there will be a shortfall which will have a "number" on. Do you know how much unsecured debt you have (including the together unsecured)? Are you making any payments at all to the mortgage in the hope you can effect the sale of the house yourself?

[jane.l]

I think if the house sold for the price we had got for it, £116,250 then we would have after the sale about £60,000 unsecured debt total. Obviousy if the house eventually sells for less, this amount will rise. We have not paid anything for the last 3 months now, on the advice of the IVA people as we had a proposal drawn up but I realised a couple of weeks ago that this is not going to work. We are paying, (on CABs advice) rent, gas, electric, tv licence, water, council tax and our 2 cars, (on HP) and food expenses, after this, there is really not much disposable income left

[Andy2]

Well it would appear your only assets now are the cars so the longer you delay BR, the longer you keep those. In all honesty I cannot see an OR allowing you to maintain HP/running costs on 2 cars so the longer you delay BR the longer you keep 2 cars.

[freelili]

I read somewhere that HP can continue after BR as it is then up the the HP company, if you maintain payments its OK but if you default, even once they take the cars back. It also depends on how much you are paying per month and what you need the cars for.

LILY

I believe that angels breathe and love will live on and never leave. I cherish all you gave me everyday.

[jane.l]

yeah, thats another worry, we both really do need A car, even if its a cheaper one. My husband is on call 24 hours a day and can be called into work anytime, he is in charge of 2 factories and needs to travel between them, they are 10 miles apart. I work and have 3 children, ones at college, one at high school and one at primary school in different towns. I have accepted I will not be allowed to keep my car, its new and is worth a lot but what happens if the OR decides we can have a cheaper one, how do we actually buy this? Do we just save up and buy a banger???

[scaredkez]

jane if the official receiver deems you need a car, he will sell yours if it is not exempt and allow you upto £2k from the sale of your car to buy another one.
i work and the official receiver said i can't have my car or any car i am to use public transport, which is not feasable with 3 kids, so make sure you have extra good reasons for needing the car mine weren't good enough
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[thebear29uk]

Hi Jane

I didn't want to add to your stress and worry by saying what I did. Its just that I read your posts and feel for you and your situation. I'm certainly not trying to push you in a particular direction and I fully understand your reluctance to make a decision in case its the wrong one.

Have you thought about contacting Melanie away from the forum to get a straight down the line assessment of your situation taking all the facts into consideration.

Once again I'm not trying to put you off using the CAB but a few others here have suggested getting another opinion.

I have followed your situation from day 1 and offered advice and support where I can. I hope you find the right solution to your situation.

Best wishes

Dave