Question for Melanie?

[LoneRanger]

Have just had an email to tell me that an IVA is not suitable at the moment as my outgoings are more than my income- [funny how redundancy has that effect] So why on earth were they suggesting i proposed it on my partners wage is beyond me and it has taken them 2 weeks to tell me this.

To the point my question is should i find permanant employment say in the next week how soon would i be able to propose an IVA? In my last job i was working long days [14 hours] and any disposable would have gone to the creditors, but my concern is i cant cope with them sort of hours any more and alot of jobs with less hours have a less hourly rate. [so earnings will decrease from my last job] I dont want to commit my self to a job if the disposable is not going to be enough for the creditors so how much do i need to earn-just so i can cross off any that wont pay enough.?

I want to pay the creditors as much back as possible but not at the expense of 14 hour days...its too much. I do not wish to go BR until i atleast try my hardest with an IVA.

I am a HGV driver so there are a fair few jobs out there all different hours and all very different pay...

Thanks

[LoneRanger]

Though for future reference Cleardebt are very freindly and helpful and at the end of the day i think they were just trying to do what they could for me, so i would highly recommend them

[size5]

I am so sorry that you had such a body blow, and I know from my dealings with you that you will do everything in your power to get back into work, even if on a temporary basis, as soon as you can.

If you send an e mail to Maya, she will happily give you an estimate as to how much you need to earn to give you an idea, but you will understand that any IVA has to based on the facts that are relevant at the time of proposal.

Regards.

[LoneRanger]

Yes i appreciate that Mike, i just dont want to take a job on minimum wage for expample if it would never be enough to even propose an IVA. I will email Maya in the morning now as my head is pounding and want to forget about it atleast for tonight.

[Viki.W]

Good luck Steve, just put your feet up tonight and try and stop your brain buzzing. X

[MelanieGiles]

Although this post has been addressed to me, as you are already dealing with Size 5's company, then I think that you are better of sticking with the advice you are receiving there as they all have detailed knowledge of your case.

[LoneRanger]

I asked your advice Melanie on a point of view that my case has now been dropped and i was only looking into other opinions, to keep my options open.

[MelanieGiles]

Sorry Steve - you still have the options of a DMP or bankruptcy. Do you have any assets which would be at risk under bankruptcy proceedings, or after all this would it be the release that would enable you to get on with your life debt free?

Personally, I would focus on finding a new job and let the creditors sit and wait - obviously keeping them as informed as you can in the meantime.

[LoneRanger]

I have no assets at all but im a bit scared of BR-i dont want my name in the paper and i certainly dont want my landlord to know.

If i went BR then my parnter would have to as our major creditor is HSBC and we owe them 27k [with the interest they have added] wich is joint so they would only pursue her for the debt if i opted for BR

[MelanieGiles]

Is your partner going ahead with an IVA at the moment? And if not, how was it proposed that the joint debt be dealt with in your IVA proposal?

[LoneRanger]

Noshe is not. This was really confusing for me and you might remember you breifly spoke to me on the phone when i was concerned how it was proposed. It was proposed that she paid 37p/£ and me 33p/£ meaning a total dividend of 70p/£. I was told my partner would have to propose an IVA as HSBC would pursue her for the full amount. Had she have gone ahead with the IVA still then HSBC would have pursued me for the full amount.
The other thing that confused me was that my individual debts that are nothing to do with my partner were listed on her Proposal, is that comman practice or should they not have been on there. If not would it have made any difference to the dividend being offered?

In all honesty Cleardebt was the first company that i approached, other than yourself but this was for a second opinion. As soon as i get employment i will be contacting a few compnaies beacuse i know allowances etc are different from IP to IP, as some of the allowances were below what i actually pay.

[MelanieGiles]

I suspect it was my other colleague - who is also called Melanie! - who you spoke to - and we are always happy to give a second opinion at any time.

Steve - it is really difficult for me to advise you on a public forum, when I do not have detailed knowledge of your case. As you are not in a position to go forward with the IVA at this time, I suggest you sit tight until you find work and then reappraise the situation again.

Cleardebt are a very reputable company, and I am sure that they have your best interests in mind in whatever way they presented the IVA.

[LoneRanger]

thanks melanie

[size5]

Steve,

You are free to approach anyone to sort out your situation and I wish you the best of luck but I am a little concerned that your posts could be mis-interpreted.

For the interests of balance, can you confirm exactly how much you have paid for the advice that you have been given, could you also confirm who is currently dealing with your DMP.

Regards.

[LoneRanger]

If my posts have come across wrong then i appologise.