Fri Dec 03, 2021 8:17 pmFoggy wrote:

Excellent news ! Well done ... got there in the end.

Thank you. I'm looking forward to feeling well again, it's been such a stress as I'm sure most on here know.
We got a bottle of fizz, with money earned not borrowed

The IVA was approved. I'm so shocked and relieved, a new chance.. And they have not put a charging order on the house, my house will be paid off just a few months after the final iva payment which will last 6 years. I can't believe it

Your story sounds just like ours apart from the fact that we owed £80k! I also kept things from my husband until such time that it all came out after a phone call from one of the creditors which I could not hide from him any longer. Thankfully we got through it. Hello, thank you for this. I'm so gl...

Thank you all. I feel reassured that forced bankrupcy is a rare thing. Although I am prepared for the worst just incase. 62k is a lot of money to have spent on credit, I don't know how I ever thought I'd reasonably pay this amount back, I gave my wife control of the finances when we were already in ...

Thank you that gives me a bit of hope.
The worst thing about bankruptcy is the thought of loosing my house when I have done so much work on it and my wife loves the house. I'll be so glad to get to the 2nd and have a decision hopefully

Mon Nov 29, 2021 6:19 pmFoggy wrote:

A forced sale of a property, such as in bankruptcy will usually be at a far lower value than the open market value. From this are also deducted the auctioneer's fees and the OR's fees.

Thank you. Is this quite unlikely to happen? I'm wondering if bankrupcy is seen much across this forum

Actually, even stories of people who have been forced into bankruptcy and a house sale I'd like to hear, so I can be prepared. I can't think about anything else right now

Hello My 2nd creditors meeting is Dec 2nd after a 14 day postponement. I really feel like they are going to make me bankrupt because the equity in my house is almost exactly what I owe. Has anyone had an IVA accepted even if they could pay the debts with their equity? I'd love to hear positive stori...

Sorry to read of the initial rejection. Hopefully the mitigating facts and details of the impact to your wife should you be faced with losing your home will support your case and your creditors will reflect differently on your iva proposal. Let us know how you get on . Thank you very much. Only a f...

You could "sweeten the pot", so to speak, by offering an extra year on the term, making the IVA a 6 year arrangement with the possibility of a further extension due to equity release provisions, rather than a 5 years with the same possibility of extension. Hello Foggy, I expected the IVA would be 6...

I'd like to add that I have brought up my wife's 3 children to her ex. 2 have grown and moved out, one having recently finished uni and working with his own place, the other left college and is settled too. One still with us and in college. I've had to support them over the years with no child maint...

Hello I am new to the forum and having sleepless nights. My IVA was rejected last week. I'm with payplan who reassured me that not many IVAs are rejected but then mine was. I let my wife control the finances for a long time. I was aware we had been getting into further debt over the years so it's my...