Stressed1 that is terrible! I am so sorry for you.
Do you think you will be able to find further employment quickly?
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
You can only tell him the truth. We had another poster a few months ago who ended up in the same position as you. He eventually managed to find employment, and I believe he proposed an IVA again.
There is no point carrying on with your proposal as you will not be able to make the payments.
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
They have already taken 2 payments of £700 with the next one due next week.Whats gonna happen with that! money down the drain!
The creditors are constantly on my case as well.
No idea what they will end up getting now
Are you due to get that money refunded if the proposal isn't accepted? If so, get in touch with your IP, tell him why you can't carry on and ask for the money back.
Cancel the next payment - you can't afford to pay 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
Sorry to hear about your job loss and your IP will likely be sympathetic. You can go up to three months in arrears without creditors being contacted and an extension can be sought from creditors if your situation has not improved by then. Creditors should not be hassling you after an IVA has been approved but it can take a little time for all systems to be updated.
Contact your IP immediately and I would suggest you do not make the next payment as it will be needed by you to live on and to search for another job.
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
Sorry Jan I did not realise that. Having already paid £1400 I assumed it was up and running. However, the same applies to a one off IVA as to a variation and if he can raise £16-20K and he does not have substantial equity I see no reason why he could not clear his debt problems once and for all. I know it is a lot of money to find but if it is possible at least he can go looking for work without panicking about a failing IVA.
I do think it's dreadful when people have the rug pulled from under them, just as they are getting sorted out.
Did your company say what would happen to the money if you were unsuccesful stressed1?
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
they said it wouldnt be returned if the proposal was unaccepted- no idea what the course of action is now it wont get put forward at all- trying to find a convenient time to call them. I've emailed and adsvised of the situation
Can i also quickly clarify I am a she!
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
