www.iva.co.uk

I started an IVA with DFD and they never contacted me but past my details to another company. Since then i have not been able to make an payments and have fallen way behind. The monthly payment is huge and i simply cannot afford it. Where do i go now? What do i do its driving me to the point where i can longer sleep at night.

Do you know why they passed your details to another company?
Obviously if you haven't made payments and you are way behind, your IVA has probably failed.
Did you recieve a notice of breach or a termination notice?

If it has failed, you will be back to where you were before taking the IVA and your creditors will be free to start chashing you for the full ammounts owed and free to start adding interest on again.

Hi Peter
Can you give further details ?
Regards

Hi and welcome to the forum.

Did your new company change the amount you pay?

It all started with a company called gregory pennington who i had a debt management program with. I was making payment every month for a TOTAL DEBT OF APPROX £10K but things started to get out of control Cause i had two cars on hp along with rent to pay food bills etc being the bread winner it got too much. I deceided to give the two cars back which were sold for way less than they were worth. I then spoke to DFD and handed everything over them. By this time i had split with the ife and moved out. DFD then said they had no idea who was dealing with the case now after man phone calls i found that a company called poppletn and appleton were dealing with the case. It all went to court and theni started to recieve form for a direct debit. Things were so manic at the time i just pushed it aside. I finally sent the DD form and the bank retured it stating there was a problem. Poppleton and appleton sent me quite a nasty letter also saying things like it was my fault that i didnt keep the money aside to cover the outstanding payments and i will be in default which i agreed i would be a it was my fault. I replied i will try and get back on track and sent another DD form which again was returned. Now i am recieving threatning letter for the money i owe. No letters from poppleton and ppleton for about two or three months now. I am at the end of my tether now. I am now considering bankruptcy but i am worried i will lose my job. Its a very good job working at heathrow airport. My rent is £550 a month. I am paying the heating and electric for my wife as part maintanence which is £100 plus anything my daughter needs. I am paying council tax onmy rented flat along with electric etc. Food has to come out of my wages and also a payment for my dad to which i owe hi money. My car is only worth £500 if not less. I need this to drive from heathrow to high wycombe to see my daughter when i can. I am probably left with about £200 which has to last me the month for petrol an other items. All in all i can afford £300 a month for an IVA but i am being asked to pay £600 a month (58K). I simpy cannot afford £600 a month.

That's terrible Peter. What an awful time you have had.

As far as bankruptcy is concerned, I would imangine that your job would be safe. Your employers would not need to be notified.

Has your iva actually failed yet?

I would check out www.iva.com and phone one of the IP's on there and ask their advice.

You cannot carry on the way you are.

I have not recieved anything stating my IVA has failed. Nothing at all apart from letters from the companies requesting money.

Hi

The first thing that concerns me is why you are still getting letters from your creditors if you are in an IVA. It would tend to suggest that your IVA has failed.

I would ring your IVA company and ask for a full review to be conducted on your case so that you know exactly where you are.

If your arrangement is still running, you should ask for an income and expenditure review to be conducted so that you can reduce the payments to your arrangement to a more affordable amount. This will probably require a variation meeting as your creditors will need to agree to the reduced offer. Unfortunately however they will not be able to make an allowance for the payments to your father.

If your arrangement has failed you will need to reconsider your options.

If you do not own a property then bankruptcy may be an option open to you, however depending on what job you have at Heathrow it may affect your employment. I would check your contract of employment or ask your union rep for advice.

It may be possible to propose another IVA however it will be difficult to pursuade your creditors to accept if this is the second time round. It sounds to me as though you were not given proper advice - and if you were you did not fully understand it as from what you say you did not have a clue what was going on at any stage. This might count in your favour.

As I said at the begining find out from your IP what exactly is going on and then you may want to take advice from another IP about the best way forward.

In all fairness you are correct in what you say. Poppleton and appleby only kept asking for money. They never shows how things were going to be done. I have nothing from them stating the IVA has failed. I had a look at your website and didnt quite know where to go so if possible could you advise me on how i start the process with you?

I did include a couple of things of my wifes which amounted to a total of approx £3000. She has since recieved a letter from them asking for £700 and they will be round in two days time for it. This debt is with DWP Dept Work Pensions.

Elizabeth is not allowed to post those details on here. You will have to contact her via her website.

Oh i see thank you jan

I will be more than happy to advise you - send me an e-mail or give me a ring tomorrow morning.