I am currently in a payplan IVA and finding that it is not working for me.I am struggling with my payments and find myself again slipping back into depression.I wanted this to be the answer to my prays but being married with 2 young children and with my bills going up all the time there appears to be never the right time to make the payment.I cannot seem to get good budget financial help and I am reluctant to let my account fall near going overdrawn.
I am considering telling payplan to fail my IVA and wait then to go bankrupt.
All you seem to hear now are about these poor savers and that the banks are struggling - I often say to my colleagues alike to "get into the real world".
I have 2 neighbours - one lost his job because he was incompetant and they paid him £8500 the other lost his job with the amb service because he did not go to work for 19 months - now they are living on benefits with more money than ever.
Where did I go wrong........trying too hard to be Mr Nice guy....
Thanks for listening
Hi Paul51
So sorry to hear that you are struggling and finding things hard. I can understand the rate everything is rising, a tight budget can easily get pressured. Ask to speak to your Ip and tell them how things are and that you feel you may have to fail if there is no relief.
Try to look at your budget and see if there are any places you can maybe save a little on.
I certainly have had to cut back on shopping a bit and try to find cheaper alternatives.
Anyway I wont go on but have a word, with your company, they cant help if you dont tell them.
Hi Paul 51,you comment about the ambal' worker not working and cliaming benefits and have lots of money - a delicious prescience catch phrase if I have ever heard one - going on benefit is far from a road to Perdition. You are so on the ball! I am contemplating for an IVA and I think you have made helped to my make up go Bankrupt instead.
This site is great at inspiring others to do the right thing.
I have tried very hard over the past 3 years to manage my budget as best I can and not had the wage increases to go with it.Also we as a family have had to clear our council tax bills from 05/06 and 06/07 along side the current one.Plus I got into HP arrears with my car so that payment gone up along with rent arrears and other utility arrears.You are probaley thinking how did i get into that mess and also try to run an IVA.I suffered from depression/anxiety over the last 4 years and have had a lot of time of work on half pay.Of cours all along the arears had to be paid.
All these arrears end in Feb 2009 but I wonder if time will not be on my side.Payplan are currently going for a 2nd variation with creditors and I dont know the outcome of that yet.
I agree with Steve, it would be a shame to fail now, especially if you will have caught up with everything by February.
Wait and see what your variation says before making any rash decisions.
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
Can i just add none of us ae wondering how you got into this mess as we have all been there and we have all got into a mess.....just wanted to make you feel at ease that no one is judging you on here
Quite right Sarah - been there, done it and got the T shirt!
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 have as advised by someone here speak to IPs from three firms and I asked about expenditure in an IVA and all three had said that they all operate with banking acceptance criteria. I spoke to family members and think I am better going Bankrupt and just make claims. I have had depression from domestic violence and don't know if I could stick it through for 5 yrs on the IVA allowance. My sister who is single parent and on benefits in Manchester is on more like your abam' friend as she has a child and gets housing benefits all paid.She can't work as she's also on disabilty benefit.She also have claimed a crisis loan when her partner beat her up. I a no dole cheat but I am 60 and want to put my feet up for once and end the worries. What happens if I can't pay my IVA 3 yrs from now and get into arrears like now????
Don't forget that you may have to pay into the BR for three years.
Do you own your own house? If so, and there is equity in it, you may lose that.
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 hearing mutterings around the Court Service that the Official Receivers are about to get tighter with their allowances in bankruptcy proceedings, so maybe the IVA allowances are not going to be so bad in the future.
Do you think that would affect people who are already BR Melanie? If I have to have my IPA reassessed is the OR likely to say my allowances (which were pretty generous) are too high and cut them and make me worse off?
