www.iva.co.uk

Hi
More questions....
We have been trying to think of ways of increasing the amount available to creditors by being creative... (!) well that was the plan anyway!
We have a nice spare room, a double and live near public transport in Halifax (a reasonbly sized town with good rail/bus links to Leeds, Huddersfield, Manchester) Do you think I am mad to even consider renting it out? (We have three young daughters and I am of course mindful of the impact a lodger may have on them, and of course ourselves!)
Do we consider taking out second jobs? I thought about looking after other people's kids in the school holidays (most of which I don't work) I usually have a houseful anyway, so I wondered about doing it officially? Or am I just setting myself up to fail/have a nervous breakdown or both?!
I think we are proposing a reasonable return on our debts, although the finer details have yet to be confirmed. I just want this whole thing to be finalised and put behind us so we can get on with enjoying our kids/jobs/each other etc. I don't think I have ever felt so stressed about anything!
Thanks
Helen

Hi Helhan

Why the need to increase??

They're obviously happy with the way it is or they would have rejected it....

Do you really need a Lodger??

One other way is downsize your home..If you got 4 bedrooms go for a 3 bedded..

This way may even release enough equity to offer a full and final solution

Keith

The long and winding road will straighten out eventually....keep the faith

Hi Helen
I would not take anything unecessary on why stress yourself when you are already sressed. You deserve a break not more work.
Try not to worry. I am sure all will go well.

Ang

Hi Keith & Ang
Thanks for the advice.
IVA not yet proposed, but we can afford to pay approx £915 (we owe £105,000)although our outgoings remain high(genuinely so), and I am not sure the IVA will be accepted because of this. We have a good IP, who has been straight with us about whether our figures are likely to be accepted.
I am trying to stay positive about the whole thing, but am finding the whole process extremely stressful.
Thanks for the support!
Helen

Helen

Did your IP say the figures would be good enough?

If so then let it ride its course and stop worrying.

if it fails then decide what needs to be done.....

But until the vote CHILL OUT and RELAX... you can't do anymore yet and worrying is not an option at this time

Keith

The long and winding road will straighten out eventually....keep the faith

Hi Helhan.
I had debts of £105,000 and pay £560 per month.
Halifax is nice I live pretty near.
You will have legal complications with a lodger, do you really want it ?
Interesting that you say you don't work (you do you have 3 kids)
The stress is natural it will level out.
Taking second jobs on will mean you pay more into the IVA

Regards
Adrian

Helen what pence in the pound are you paying. I know how stressful it is whilst sorting it all out, all I can say is keep going, you are doing your best and that is all you can do. It is not nice having to face debt but think it would much more worse if you didnt. I felt like you not so long ago, and remember sitting reading the posts, as I wasnt brave enough to post, and sobbing because a creditor had just rung for the fourteenth time that day. The forum helped me to go on and now life is stress free, not easy but calm and thats all I wanted. I really hope that you get that feeling too soon.

Ang x

Hi Adrian
I do work, but not in the school holidays!
Helen

The return is 52 p (not including IP fees, which are about £8000? is that right?)
If so the return would be about 44.6p
Thanks
Helen

Helen

I have now replied to your e-mails and feel that you have the basis of a good proposal.

Let me now finalise things for you and present this to the best of my ability. There is no need at this stage to even think about ways of making more money - you have enough on your plate at the moment as things stand.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

That is such a relief Melanie, I shall check e-mails.
Thank you.
Helen

That looks like a good offer Helen , stick with it.

Ang