I spelt it wrong, its pereto, they have an ip practitioner, the guy I spoke to yesterday from there suggested I contact payplan to sort out a debt management plan in the meantime incase the Iva cannot go ahead, does this sound wrong?
In the meantime I have wrote a letter to the court asking for the aoe we have at the moment to be lowered as that alone is putting financial strain on us.
What reason has been given as to why it can't go ahead?
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'm not sure, from what I'm getting is that my biggest debt is to the hmrc for tax credits and that they have the biggest majority of the vote and apparently tax credits are likely to say no. I feel like I'm put on hold, its not helping my anxiety at all.
You will not know if HMRC will reject until a meeting is called and they are asked. They have criteria which are widely published and if you meet these criteria then the IVA will be approved but if you do not they will reject. They will not be blackmailed by the threat of bankruptcy as other creditors may be but they do accept IVAs.
If you have a substantial debt to HMRC then I do not see how a DMP will solve your problems. It sounds to me that bankruptcy or IVA is the correct way forward and you can try the IVA if you like with the fallback of bankruptcy if rejected. Alternatively petition now if that is the right thing to do but a DMP does not seem to be the best way forward if you have an AoE and a substantial liability to HMRC.
Thankyou, you have just confirmed for me exactly what I think myself that an Iva is the way forward with the debts I have, I do believe that its my best option, I am giving them til Friday and if I have not heard anything then I will seek another Iva company, I cannot really be put on hold any longer, I suffer anxiety and panic attacks really bad and at the moment my anxiety is high, and while I'm on hold I'm not getting anything done,
Thankyou for all the info you have given me this last week, I appreciate it.
You could try some of the companies that post on here, including the sponsor company - all of them will give you free advice.
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
