No all proposals are filed. It is either you or us misunderstanding what you have said. Don't worry as it appears all going well
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.
You can cancel your application for your IVA, and you can talk to your creditors yourselves, I presume you would want to be negotiating lower payments and do a debt management plan? There is no guarantee if you do that they will accept lower payments, or freeze interest or charges.
Why are you thinking of pulling out?
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
Im just worried that our IVA might fail and we will be back at square 1 again, the reason why i was thinking of pulling out is 1 of our creditors have put the limit up on 1 of the cards so i thought we could clear off some things with that to make it easier also i dont work at the moment so i could try and get a job that works around my children i know it would be difficult as we have dogs that cannot be left alone all day.
I keep thinking maybe theres ways around without our IVA but then also we could be worse off without doing IVA
I think we will see what the outcome of our IVA will be the date is set for the 5th march.
I just hate not knowing.
Sara, please don't use anymore credit! That is only throwing good money after bad, and you will eventually be back to having no money and have to start the process again.
If you can't manage without using this card at the moment, then you won't manage without some sort of debt management.
With the IVA, you know that in 5 years you will be debt free. Just make sure that the payment you are asked for, you can manage.
Once you have had your meeting and the IVA is approved, then you and your creditors are legally bound by it.
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
When you have recognised that your are insolvent, which you must be if you are proposing an IVA, you really should not take out further credit which you will be unable to afford.
Stick with your IVA proposal and don't take any more credit. Have faith in the process
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.
I'm sure everything will be ok Sara. Don't forget that we are here for any advice and support whenever you need it.
Let us know how things go.
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
Well we have decided not to go ahead with our IVA the reason is i think we rushed into doing an IVA without looking at other options ,i have been in contact with all our creditors who are very considerate about our situation and going to help us.I do feel alot better after doing this i think we would look at an IVA as a last resort .
There is other ways we could increase our incomings so we are going to see how we get on.
If anyone doing an IVA who like us jump in with two feet i would suggest speaking to your creditors first to see what they could do for you and if all that fails then look at other options.
I would like to thank everyone for your support and i will check the forum daily see how everone is getting on and even update on our happenings
thank you again for your support through a very difficult time ..
Good for you saraw. However what advice did you take and what options were discussed with you at the time you decided to go ahead with an IVA? I trust you can sort out your creditors by yourself - any problems come back here to the forum. Good luck.
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.
It is always a good idea to discuss your financial difficulties initially with your creditors, just to see if they would be prepared to assist with reduced payments or extended payment terms - but if they will not cease charging interest then you may find that you will never repay the debt.
