I am in my 2nd year of my IVA and its been a bit of a nightmare (I am with synergi by the way not by choice but was passed to them by the debt councelors). I have got to the point where I am seriously considering br as I need a complete fresh start. I have spoken to my ip who really just keeps reminding me of my responsibilities under the iva all of which I am fully aware. I am obviously worried about br and very scared of going to court but I dont feel I can continue like this as it is starting to ruin my health. any advice and experiences would be great and very welcome, cheers
I think that if you have a good read of Skippy13's blog on her experience with a difficult IVA and then subsequent bankruptcy proceedings, you will see that it is not perhaps as scary as it seems.
Do you have any assets which would be at risk from bankruptcy proceedings, such as a house or a car worth more than £2,000?
Hi - take Melanie's advice and read Skiipy's blog. It really does give you an insight into BR. My hubby is going to apply for BR after his IVA failed and even though we're still worried, to get firsthand advice is such a great help.
There is no point struggling on with your IVA if you cannot manage. Your health is far more important.
BR is not as scary these days as you think, and if you have no assets it may be the right way forward for you.
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 Catherine, I know BR sounds scary but to be honest it was the best thing I could have done. I was terrified of going to court, but it was nowhere near as bad as I was expecting and everyone at the court was lovely to me. BR gave me a fresh start and although I'm paying into an Income Payment Agreement for 36 months it's much more affordable than my IVA and I have a reasonable standard of living.
Your health is so much more important than your IVA, so please do what's best for you. If you have any questions please post and someone will be able to help you xxx
Dear all
A very big thank you for your replies I feel better already! The story so far is I entered into my iva almost two years ago and quite frankly I panicked my way into it because I was so worried about BR. I own my own home which I have been trying to sell but will probably go into negative equity anyway, either way I will lose. My only other asset is my car but its not worth much and I use it as part of my job. I wont be homeless as I can move to my boyfriends house. I am now in a place where you all know very well, I have about £100 left at the end of the month for food, clothing and other such luxury's!!!!. I owed £25,000 and am paying £250 per month but I am in arreers now with no real hope of sorting things as it stands. going by the feedback I need to press on with BR and start my life again, hoping to get married at the end of 09 does any one know how this will affect things if at all?.
Once again many thanks for all your help and support x
