Hi Tracey, I can really sympathise with you as I ended up with an IVA that I couldn't afford. At the time it seemed the only way out, and I think in that situation that you agree to pretty much anything.
BR was never discussed with me, and it seemed like the end of the world so I didn't want to consider it. After 4 months of struggling with my IVA I went BR as there was no way I could live like that for 5 years.
Good luck, and please let us know how you get on. If you have any questions please post and someone will be able to help you.
Good luck with whichever route you take - it certainly appears bad advice has been given. To be asked to sign up for an IVA which from the outset was unaffordable is disgraceful and the company should be ashamed - you have gone through loads to come to the conclusion that help was needed to clear your debts and to then be directed down a wrong road is not on. Good luck
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
[quote]Originally posted by Skippy13
Hi Skippy,
Thanks very much for replying. I have had a look through your blog and you have had a really rough ride. Just looking on this site and realising I'm not alone is a great relief. I know that the next few months are gonna be a bit of a nightmare. But at the end of it all I will have peace of mind that I am no longer in debt. I just wish that I had never got myself into this situation in the first place. I was young and thought that bank loans and credit cards was easy money....... how wrong I was hey? xx
Didn't we all Tracy! Unfortunately it comes back and bites you on the bum!
Still, you have made a decision to take control of your life, and I wish you the best of luck with it.
Don't forget to keep us informed.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I work a lot with housing associations and I don't think going bankrupt will effect your tenancy. The most important thing is to contact them and make an affordable arrangement to repay the arrears. As long as they are receiving your regular rent amount plus a little towards the arrears they should not take any repossession action.
I have negotiated for tenants with high rent arrears and dire financial circumstances and have always managed to negotiate with them on my clients behalfs.
Hope this helps and good luck.
XXX
7 down 53 to go
The pedal uphill may be hard but remember once you reach the top you can take your feet off and freewheel all the way down!!!
I hope you get everything sorted out, im also in an IVA with MDC i haven't had any problems so far and all options were discussed with me properly prior to deciding that an IVA was the option for me.
I am sorry you were badly advised to begin with. Speak to your IP if possible and then make an informed decision and if bankruptcy is the appropriate advice go for it. Good luck from me.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi guys thanks for the messages..... update- have decided to go to C.A.B. I have an appointment for tomorrow, hopefully they can help me sort this mess out xx
The CAB provide good and reassuring advice, and I am glad to see that they have given you an early appointment, as their resources are overstretched considerably at the moment.
