i really do not no which 1 to go for help please

[lily]

Jane

I disagree with sonyse as I feel you have too little disposable income for an IVA and doubt if any good IVA company would consider a benefits only income IVA.

As you have already stated you would be in a DMP for 16 years.

Although I do agree that you should consider carefully before comitting to anything, as I see it BR is your best option to wipe the slate clean and get on with your life. Considering your circumstances re your husband and young daughter. You have no assets to protect and have obviously tried to return as much as you can to your creditors by way of a (neverending) DMP.

When my income changed to benefits only the reputable IVA company told me that I couldnt no longer go down this route, only one non-reputable company was prepared to try.


Good luck Jane.

lily

[Skippy]

I agree with Lily.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[BrassicLintus]

I agree with Lily too! Jane, I am soooo mad for you!!! What are these companies playing at giving out bum information!! I went BR in August - as a dmp would have taken me about 18 years to pay, I didn't have enough disposable income for an IVA, so BR was my only option. As you rent and have a low value car - in my personal opinion BR would be the best route for you. Although I would recommend that you go to the Insolvency website and read up on the implications. As you are on benefits, I doubt that you would be subject to an IPA so you wouldn't have to pay any monthly contributions. 16 years is a long time to have to pay that kind of money when you're not earning - and a lot can change in that time. Think carefully and get as much information as possible before making a decision. And if that bloke phones back tell him to log on to this forum - as he is clearly in need of some education regarding IVA's!!! Good luck with whatever you decide and keep posting to let us know how you're getting on.

[jane.c]

thank you all for your kindness and replies,i must admit im seriously thinking along the lines of br,im going to ring the cab as they have a debt counsellor there who wil go into the in n outs and even get the ball rolling for me,i cannot see her till nxt thurs as she only there 1 day a wk.im def going to tell baines n ernst no to the iva. the only thing with br is raising the money i nd but im sure cab will advise me about this as some of you on here as so kindly have,my head swimming with it all at the mo just seems so much to take in.

[catullus]

I don't think that the board needs an IP on this post. pretty well all the comments made in respect of the advice given to Jane are correct.

It is highly unlikely that an IVA would be approved and there is no good reason why Jane would want to avoid bankruptcy.

Well done class!!

[BrassicLintus]

Jane, you could stop paying the £149, then use that for your BR. I know what you mean about your head spinning! But just take your time, don't rush into anything, and make sure you're comfortable with any decision you make. Good luck.

[lily]

As brassic says you take your time, one step each day is all you need, I am sure you are now walking in the right direction for your cicumstances. I wouldnt give the DMP company another penny. You can fill in the BR forms online, I did this myself before I had the funds, ( I dint go Br in the end though) I am sure you will not have to pay the £150 pounds as you are on benefits, although if your debts are in both your names you will both have to file for BR.

If you have any questions or are scared of anything, please feel free to post them here, we will try to help you.

lily

[jane.c]

when the or is called in what do they do

[lily]

Skip, brassic, sue coco, kerri will tell you better than I can but just to put your mind at rest they do not come into your home, usually they speak to you on the phone. Dont be thinking that they come round to your house and look at everything. (thats what I thought would happen and it scared the spit out of me).

lily

[BrassicLintus]

Once you've filed for BR, you will have an interview with the Official Receiver (this can be either by phone or face to face), I had mine 2 weeks after my BR date (others have had the interview on the same day). The OR is appointed to sort out the ins and outs of your finances and he prepares a report for your creditors. He'll inform them all that you are BR and he'll also inform your bank/building society. In the interview the OR will ask you what you took the credit out for (mine was interested in mainly the loans - and i couldn't remember what I'd spent it all on!) and how I had expected to pay it back. They won't expect you to account for every penny - but as long as you're honest with them - it'll be fine. They will also go through your income and expenditure, so make sure you list absolutely everything you pay out each month, (you can also include a holiday fund!). With regards to your property, they do not take into account everyday household items (unless your home is furnished with valuable antiques!), and as your car is low value and you have a good reason for keeping it - the OR is unlikely to order it to be sold. Don't get too stressed about the OR - they're human (well most of them are!) and they aren't there to "punish" you - they are there to help and to ensure you don't get into this pickle again!.

[iva.com]

Hello again Jane,

When you have gone through this process would you consider posting a review of your experiences at www.IVA.com? This could be useful to others who are in a similar situation and might help them to avoid entering into a pointless IVA application.

I hope it all goes well for you and look forward to hearing the outcome.

Kind regards,
Terry Balfour
IVA.com

IVA.com - The IVA Comparison Site
100s of reviews, All IPs and IVA firms rated.

Use our IVA firm comparison tool to find best IVA firm for you:
http://www.iva.com/iva_comparison_1.asp

[jane.c]

thanks brassic ,if i stop paying my dmp and use the money for br thats going to take 5mths to save that i dread to think what will happen in those 5mths letters baliffs non stop phone calls do i tell them im not paying because im br

[BrassicLintus]

Jane, regarding letters & phonecalls - I wrote to all my creditors and kept them informed as to what was happening (originally I'd hoped to enter an IVA). Just write to them and tell them that you are currently sorting out your finances and will be in touch as soon as possible. I didn't pay my creditors for 4 months before my BR and it was only in about the 3rd month that two started ringing me. And I just told them what I'd put in the letter. They tried to get me to make a payment over the phone, but I just told them that they couldn't have what I aint got!! Yes, the letters got increasingly worrying, but I knew that I'd done my best to keep them informed and was working hard to try and sort it out! I got a couple of letters telling me that they were sending someone around to my house - but no-one ever turned up!! Even after I had gone BR I still got a couple of phonecalls but all I did was tell them I'm BR and they even apologised for disturbing me!!!

[lily]

They only baliffs that can enter your home are county court baliffs, then only if you fail to pay a county court judgement or council tax.

I know these people phone and send letters but they really cant do anything to you yet, you have been paying them but its just not feesable for you to stay in this plan, The threats the companies make are usually empty and they use scare tactics to get you to make a payment. If they threaten to send anyone round, which they do, they usually dont turn up, if they do tell them to go away. Its the call centres job to phone you and try to bully you into paying them something, just tell them you cant as you are saving for your BR. They get paid more if they can get you to make a payment and will say anything, please dont give them the upper hand, stick to your guns Jane, you will get there in the end.

Good luck

lily

[jane.c]

phew thats a weight off thanks