I would be grateful for advice after failure of IVA. I am being pursued by creditor.

[Juliet]

Hello
I entered a joint IVA with my husband in 2008. Payments were maintained for a couple of years. But the marriage failed and I couldn't keep up the payments. I understand Grant Thornton wrote to the creditors in February of this year to say the IVA failed (although I never received anything). It has come off the insolvency register.
One of the creditors is now pursuing me (1st Credit). They are saying it is not statute barred because of the payments they received during the IVA.
I would be grateful for some advice as I have no savings/assets to pay for this.
Thank you
Juliet

[plasticdaft]

Its not statute barred,they are correct. Could you afford to make payments to the debt? If not bankruptcy may be an option or another iva.

Paul

[Foggy]

Hi Juliet. Paul is correct in that the debt is not statute barred.

I would suggest a chat with another insolvency firm or two to see were to go, according to your own specific circumstances.

[size5]

Your next move depends upon your circumstances. Are you a homeowner or tenant, what level of debt do you have, any other assets etc? Do you feel you could afford any payments each week or month, albeit probably much less than you were paying when you were married?

Depending upon the answers to those questions, you would have the choice of a new IVA at a lesser payment, a DMP, Bankruptcy or a DRO.

I would suggest you seek some no obligation and impartial assistance to determine your next move, leaving things as they are doesn't really seem to be an option for you.

Regards.

[Adam Davies]

Hi

The debt is still valid so consider another debt solution, either Bankruptcy another IVA or a possible debt management plan

Chat with several companies/experts/charities and discuss all options

Regards

[Juliet]

Thank you very much for your responses - I will seek assistance as per your advice.

Juliet