told that I should take my daughter out of college

[JuliaE]

Just a quick one really, to say thanks to the forum for the kind words and a big thanks to Melanie for getting the ballrolling for me.

[MelanieGiles]

Keep us updated on progress Julia, and good luck.

[JuliaE]

Yes I will Melanie. Not much happening at the mo though.

[JuliaE]

Is it too early to ring IP to see if thry have completed a new proposal? It is getting closer to having to pay 1000 and if they take this out of my bank I wont be able to pay mortgage and other bills. Its a bit worrrying really. What should I do?

[Adam Davies]

Hi
Your mortgage is a priority over your IVA.
Cancel the DD or SO and pay over what you have left,after essential bills,to your IP
Regards

[JuliaE]

Thank Andy for advice.

[JuliaE]

Just a quick question. Would I have been better off going bc if I had no equity at the beginning in my house? I was never offered a dmp or bc, I do not have an equity clause in my IVA but I feel that if I went bc in the first place they may not be asking for over 1000 but now and wouldnt have taken my house as there was no equity in it. Any thoughts please.

[Adam Davies]

Hi
Bankruptcy is an option but I would take specialist advice.Paul Johns of Reviva deals in this area and is contactable via the experts link
Regards

[JuliaE]

Thankls andy

[AlanO]

I Agree with Andy - Mortgage is most important ensure that this prioritry debt is paid.

The IVA payment can be covered at a later date and afterall if the variation is not sustainable then you will be looking at an alternative solution.

Suggest you talk with an expert to review your options

All the best Alan

www.debtdr.co.uk

[JuliaE]

Thanks alan, as time is ticking by I feel like I was before the IVA. I have been in it for 2 and a half years so I hope it doesnt fail, but like you said mortgage and other is more important I know, but feel bad about stopping DD

[MelanieGiles]

Julia

How much equity do you have in your property now? If you go bankrupt, your equity will vest in the Trustee and this will be based upon the value of the property now and not at the time you entered into the IVA.

[JuliaE]

Hi Melanie, My half if house for what it is worth now would be about 14000. I really dont want to go bc.I think going bc would mean less money in the long run for creditors. This isnt what I want. I just want to pay back as much as I can you know. I do not have an equity clause in 4th year will this make a difference. Could I say I could do something like that at a later date. I have emailed and called IP and CM but no one getting back to me as yet.

[MelanieGiles]

Can I suggest that you now take this to a higher level within the company to see if you can get some progress. Keep a log of your attempts to speak to your IP - I personally would try once per day - and this will give you grounds for a complaint if they are not taking the matter seriously. You might also like to find out what the firm's complaints procedures are just in case you need to follow this route.

[JuliaE]

Thanks Melanie, I will call again tomorrow.