It does seems strange to me because if i did go bankrupt i have no assests to sell. I don't own a home, i don't have a car, even my tv is only worth 200 pound.lol.
I have been living at the bottom end of the earning scale for a while now since i became ill so i really don't have anything to offer if i did decide to go bankrupt.
Steven.uk wrote:
It does seems strange to me because if i did go bankrupt i have no assests to sell. I don't own a home, i don't have a car, even my tv is only worth 200 pound.lol.
I have been living at the bottom end of the earning scale for a while now since i became ill so i really don't have anything to offer if i did decide to go bankrupt.
As mad as it sounds this puts you in a great position right now! Just suck up the extra year,concentrate on recovering your health and after that extra year has flown in you will be free to re-build your life!
That is really bad Steven and I don't know why they wouldn't accept your offer.
Best ask Mel what sauce she wants with her licence!
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 am amazed at that result from Max Recovery given your circumstances. Which IP firm are you with as a matter of interest?
Seems like I am going to have to arrange a munching session at some stage, but flippance apart I would be horrified if I suggested a sensible offer like yours to see it rejected. One does wonder how the suggestion was put forward, and whether your IP had any personal involvement with the head of Max, as I occasionally have had to do when concerned about an opinion.
Ridiculous outcome. It may be worth your ip having another stab with MaxRecovery. Sorry to hear this and hope it's not affecting your health too badly. Keep us posted.
I am with Ideal Debt Solutions. The girl that is dealing with my IVA (she has been great with me), said the IP practitioner is on his holidays and it was her that rang the major creditor personally. She said she has spoken to my "major creditor which i am presuming is max recovery as they have bought the bulk of my debts.
A call from your ip when he is back from hols may have a bit more sway. MR might respond differently if it is being recommended by the chap/ woman at the top of the tree. A sad fact of life, but true.
I would fight for this, with as much energy as you have after fighting your illness, find out when tht IP is back and hound them. You deserve a break and need to be able to concentrate your energies on day to day stuff. i really hope it works out
Well i got my 4th annual report back from my IVA company and it is true that my major creditor (max recovery) won't except my payments up till now and are asking for an extension on my payments. So i now have another 2 years to go. It has been tough to get this far and the thought of another 2 years fills me with dread.
But isn't this possibly a better outcome than having to go bankrupt? And at the end of the day it is only one additional year from that which you originally proposed.
I'm so sorry to hear about that Steven. Max Recovery are usually very sympathetic when we talk to them, so perhaps the request came directly from their client.
If you continue to struggle it might be worth getting in touch with your IP later down the line and seeing if they can talk to Max again. If they feel that the extension is not sustainable they may reconsider your situation.
As Melanie says, at this stage you may well finish repayments quicker if you continue with the extension rather than going bankrupt.
