thanks

[joanne_m]

I had said that the payments were to high because they had left me with nothing for emergencys or any left overs at all thats why all the problems started when this baliff turnt up. I had to borrow money from people and shift it about i couldnt loose my wasing machine and the little furniture i had, they were aware of this ans sent an income and expenditure form to me.That was the last i heard apart from this letter. I wish i had the lump sum to clear the arrears, again leaving nothing extra i have said i will pay £300 a month this will pay the 242 and then 58 each month in arrears. It will be tight but i am happy not to have anything and scrimp for 2 years if i can pay the IVA, i feel a bit of moral responsibility to pay something back, If they do get a patition for bankrupcy can i write to the court, creditors to explain i have offered more money to keep the IVA going and as you say at least there get more money, i really only have basic furniture so dont know what assets they can take, does this mean they can take any applience and furniture. I feel sick with worry

[MelanieGiles]

joanne

If your IP does not agree to put what appears to be a very reasonable variation to address your arrears, and continues to petition for your bankruptcy, you can attend Court and object to the application.

I think you would very likely succeed, but do be absolutely sure that you can afford the new level of payments you are offering. Make sure you have left adequate provision for contingencies, such as house maintenance, medical expenses, car maintenance and clothing.

You must speak to your Insolvency Practitioner direct and ask him/her why they will not allow you to do this. Please don't worry, you are doing the right thing by trying to resurrect the IVA, and should feel proud that you are continuing with your obligations towards your creditors.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Storm]

Melanie has replied to your other post with some very good suggestions.

It sounds like your creditors have little to gain from bankrupcy. Unless your sat eating your dinner at an antique table whilst watching the 42" plasma screen (which I don't think you are) you would not expect to be asked to dispose of any of your belongings.

I am sure you have considered everything but this offer of an increased payment must be realistic and sustainable. It is no use leaving things so tight that you have no buffer at all.