Hi All
After originally coming on this site in Sept 2006 and receiving some great advice i started proceeding for an iva, My first payments started in dec 2006(£364.00)a month and was accepted in March 2007 -I have had 1 break for 3 months in 2008 when i was made redundant. since then and before i have not missed one payment ever. In Sept 2009 I found out i was pregnant and was being made homeless i'm now 29 weeks(baby due end May 2010). Before synergy got taken over by cleardebt i was allowed a payment break for a year due to being pregnant loosing job etc(which i was really greatful for), I made my last payment on 5th November 2009 and the break ends in Octber 2010. up till then i have paid in over £12,336.00 into the IVA. I am worried that when my break is up that if i cannot afford to continue to pay the original value of £364.00 a month that they will make me bankrupt.. Can someone please advise to what will happen when they resume in october as i have had a very hard pregnancy (been quiet ill throughout) and am worried that when the baby comes being a single parent, i wont be able to continue with the original payments working part time an that after all the payments i have made and the stress i wont be able to cope. I would really appreciate any advice. Many Thanks jane
Cleardebt will only commence bankruptcy proceedings against you if the IVA proposal directs them to, which is unlikely .
I suggest that you contact whoever is handling your case at Cleardebt now to explain how worried you are. They will probably want to reassess your income and expenditure in line with your changed circumstances, and if necessary another variation can be proposed to your creditors to accept reduced payments moving forward.
No-one will want your IVA to fail, so stop worrying and concentrate on that new little one.
Thankyou very much for the advice i will ring them and explain to them how worried i am, yes this is a precious gift for me as i was told that i would never be able to have kids, my own little miracle, Just me being overly worried i guess I just want the best i can give for my little one..
I would say concentrate on looking after yourself, and the little bundle of joy when he/she comes. The time goes by so quickly, you need to enjoy everyday with them because they are not babies for long. Cross that bridge when you come to it, you probably will not know all your incomings and outgoings until the time comes. Please just enjoy being a mother, it is the best feeling in the world. Congratulations and ENJOY.
Update, I had a beautiful baby boy in June, who is now 15 weeks old, and yes Doomandgloom it is the best feeling in the world, however i have been trying to get intouch with Synergy/cleardebt to no avail does anyone have a email address etc that i could contact them on as the phone numbers etc i have dont appear to be correct and my payment break is due to finish next month and i am still worried as to what they will want to proceed with as i cannot afford to pay my old payments and i am not working etc,
With regards to my situation and still looking for somwhere to live, do you think that the amount that i have paid in so far would be enough to settle my IVA ( due to my circumstances), Also the original debt from the main creditor (lloyds TSB) i didnt agree with and told synergy this in letters and phone calls explaining why etc ( they ( TSB) say i owe an overdraft and account charges - i closed the account before IVA was taken out and the balance was nil on the account, i have been receiving statements off them which i sent to synergy every month saying i now owe them over £1000,00 in overdraft and account fees. My debt just seems to be rising even though i am in an agreement and have been since Dec 2006.
You should be able to get hold of Cleardebt via their website, otherwise try Size5 via the contact link on the left hand side of the page. I'm sure he will pick up on it.
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
Hi All, an update, (this may be a long one) I managed to get through to cleardebt, and after speaking to the person incharge of looking after my case NOW I explained to him on what had happened last year etc - so that he was updated on my case, I was informed that in november my IVA will be deamed as failed (apparently when i spoke to synergy last november the lass that i spoke to just said to me "not to worry they understood my situation and they would do me a payment break for 12 months and they would sort it out" - apparently They had put a clause in it stating that if payments of £364 didnot commence this november then the IVA would be failed. Apparently this was written in the Chairman,s report that i should have receieved last year (that i didnt get). According to cleardebt they cannot help me now and will fail the iva in november. To be honest i am really worried about what to do next they say my only option is bankruptcy, i,m really worried on what the future will be like for my baby if i go bankrupt ( will i be able to afford things for him like new shoes and coats etc,)Can someone offer some advice on what options i have or what would be best for me, as i said in previous posts i am not working at the moment and finding it hard to find a job that i can afford to keep working and pay for childcare costs and everday living costs too. The worry is getting me really stressed i thought that when in my IVA i would be worry free maybe its me being niave but i was hoping that i may of got more help from cleardebt than sorry there is nothing we can do, (I know that i have paid over £13,000.00 towards my debts over the past 2 and a bit years).
Some advice please i dont know what to do next or where to turn to and really worried about our future ( ie the next year or so financially).
If your circumstances have not changed surely it would be better for creditors to accept what has been paid to date as full and final settlement rather than pushing for bankruptcy. Failing the IVA effectively leaves you back to square one and you would then need to petition yourself.
Could Cleardebt not call a variation to close the IVA down since it is currently active? Maybe contact Size5 who posts here and he may be able to help. His details are in the experts section.
A variation can be called at any time, and creditors can either say yes or no. If the answer is no, then I suggest that you petition for your own bankrupcy and leave these unaffordable debts behind you.
