www.iva.co.uk

hi all,
Well i have been having a really bad time lately, my friend has asked my to leave her house where i was paying £250 per month, i have found somewhere else but they want £350 per month thats £100 more [:(] I have been made redundant in my job but they have offered me another position which i should get £80 per month more then i was getting, which is good for now but this is only till sept/oct then my hours drop to 21 and i will only be getting £8800 per year (i am on £14400 now) i really dont know what i am to do, my iva will be ok till sept/oct but then i fear its doomed to fail [:(] i have called my IP company and they said send it all in in writing, but what should i do? do you think i can declare bankruptcy before i pay too much into my IVA ( its £210 a month and i will have only paid 2 months soon also £450 starting fee) or will my IP not like this. also would i have to file my own bankruptcy? i was given all the options at the start (i did not know about all this then) and i choose IVA. in bankruptcy i would be paying £105 per month for 3 years according to my proposal. Just dont know whether to wait and see what happens and carry on, or sort it out now. Any opinions appreciated.

Hi Worryhead, sorry to hear of your predicament, but i know it is easier said than done, but if i was you i would be more inclined to search for another job & as you expect your current job salary not to drop til sept/oct it gives you around 6 months to find one.
I would rather do that than face the prospect of bankruptcy, that way if it still did'nt work out,it would'nt be for the want of trying would it.

True thats what my friend thinks but to be honest the job they have offered me i the one i have wanted for 2 years, i know its part time but i have always wanted to be tenancy support instead of boring admin, which most jobs now are paying £11000 to £12000. I really love the company i work for aswell. It just feels awful that i need to find somewhere else. they said they dont want to lose me and thats why this is there best offer, whether that changes again is a hit or miss situation. just feel like there was light at the end of the tunnel and now because of admin cutbacks and my friend kicking me out for her boyfriend i am back to the stressed mess i was a few months ago. I have no assets, just my car but i need that for my new position as it is traveling to clients homes. just wanna scream, why did i get into this mess in the first place

I know you probably do love the place your working at worryhead, but as you may know, sometimes you have to be realistic & the fact of the matter is you either stick around & face bankruptcy or look for another job, i dont mean to sound harsh but that is the answer really.
You never know the next job you get could turn out to be better in the long run.

This is just my opinion, but if the job is really what you want, you could live off your salary when it drops and the job won't be affected by BR then I would say go for it.

I know others on the forum will disagree with me, but life is too short to miss an opportunity that you may not get again.

Hey Worryhead, sorry to hear about your house, you really are having a time of it at the moment, I really feel for you, just as everything is working out, something else comes along and kicks you down. I really agree with Skippy, if it is the job you have longed to do I think that there will be a way to work things out. You have got to think of you, you are trying your best. Good luck from me. Viki X

Hi,
Really sorry to hear about your situation. Personally I think your best bet is too accept the new job and gain the experience and then make sure you have new job in the field you want to work armed with your new cv and new experience before September so you can continue your IVA.
At then end of the day bankrupcy will effect the rest of your life and jobs these days are never permanent. I do understand about following your dream career but if this company is already going under is it worth the risk of your current and future financial position to just fill in a temporary gap for them?

These decisions are always hard so sit and write an objective pros and cons list and see if putting it on paper helps and dont blame yourself to much - everyone makes mistakes and at least you are facing yours - good luck

Why not keep your job if you love it and get a second job part time to cover the loss in hours from sept. Have a word with Paul from reviva who posts on here I am sure he would give you advice on possible solutions.

Ang

I would agree with Skippy and Ang ... life is too short for all the worry and I have come to believe that if a situation is causing you to worry so much you might well be barking up the wrong tree in addressing it. When the solutions come they seem to be clear and simple.

Instead of continually fighting perhaps clarifying the situation would be useful ... BR would give you a fresh start and allow you to see what pans out with your job in the future ... things change.

I would agree with Ang that a phone call to Paul (Reviva)might well help to look at the whole picture.

Good luck

Debbie

Even if worryhead goes BR, £8,800 a year is very little to live on in this day and age with prices going up as they are! half that will go just on your rent!!
I would see a careers advisor and do a 6 month plan to look for another job....It is a shame to leave a job you love,but if your personal life is a misery at the end of the day when you go home from work due to no money it will probably impact on the job over time anyway!

Hi
I would agree with many and seriously consider bankrupty.This will draw a line under your prolems and allow you to concentrate on your career.
Regards

Thanks for all your advise guys. I think i may go for bankruptcy. Gonna have to discuss this with my IP and see if they are happy about it. I am happy about my new job and would be fine paying my IVA till sept but then if it fails then its been a waste i really dont want to lose my new job , the company is not going down the pan they r closing our office due to health and safty issues at our biz park we rent from so they have extended our head office to accomodate us all. but they have a large admin department there hence my redundancy and put in my new position.