www.iva.co.uk

Hi

i am currently in a DMP paying £100 per month. I am due to be made redundant in a month or so and am unsure on how to procede financially as i am currently claiming DLA and managing to work part time but obviously my money from job will stop and only have a few more months DLA left before i have to reapply.

Am starting to worry as not sure how to procede as only had little D/I left while i was working hence £100 per month DMP so now not working not sure what to do for best.

any help appreciated

Hi Stewart,

I remember your earlier posts. Have you discussed your options with an insolvency practitioner since last speaking to us? It's difficult for me to offer you any definite guidance without a full knowledge of your situation, and I think you need some specialist advice and a nice sit-down chat with someone.

hi

i havent spoken to any insolvancy firms- i suppose for 2 reasons:
embarrasment and also scared of what they might say.

the problem i have is with my dla and also i need flexible payments and a little bit more money then i would have each month in an IVA

Hi, it is really important you speak to a professional to look at all your options. I was dreading the call but in fact it's not embarrassing at all. They are very professional and matter of fact about the whole thing. A bit like doctors, they've seen and heard worse than you can throw at them. Good luck for the call, if you make it!

Broke is absolutely right, and it's really important that you get some proper advice.

Don't worry- we insolvency types are generally quite a nice bunch.

I certainly wouldn't be recommending an IVA based on your future circumstances and your disposable income, but an IP will discuss all your options in full without bias or prejudice.

Hi,

Speak to your DMP provider in the first instance to see how the land lie there.

Are you going to be able to continue with these payments? Do you have any assets which would be at risk if you were to declare bankruptcy?

hi kallis

i have spoken to my dmp provider and they have said that once i know what my income will be i.e either new job / benefits then they can adjust as needed. I only have a car on finance which isnt included in the DMP and i need this car because of my disability.

Can you get motability allowance Stewart? If so you can get a car FOC from them, brand new, all expenses (apart from fuel) included.

Could you declare bankruptcy?