www.iva.co.uk

Hi there my life is falling apart and my wife and i have separated. I am currently nearly 4 years into an IVA which has been the main reason for my personal issues. i am in a good job and earn enough with my wife to cover our outgoings but on my own taking into account that i will need to rent a house for me and 3 boys it leaves me with nothing at all to cover the IVA.
i am really scared about all of this and i could do with some sound advice on what to do next.
my wife and i do own our house but i would never ask or would she agree to sell the house. we have very little if any equity in the house too.
i am in a right mess over this as i don't want the iva to fail this far in.
i am with debt free direct but i am yet to call them without any good sound advice first.
many thanks.

Hi and welcome,

So sorry to hear of your problems. Is it just you in the IVA or is she in one as well.

Speak to DFD (Laura Harrop posts on here and her details are under the expert link on the left hand side of the page) and hopefully she can help you.

Speak to Laura and enlist her help.

Everybodies circumstances are different, but my wife took off during our IVA's (each had an interlocking IVA), leaving me as the full-time parent of a (then) 6 year old.

My firm at the time ( Grant Thornton) couldn't have been more helpful (they still get a lot of stick, some from me, but were there when needed). First we agreed a payment break while everything was up in the air. This gave us time to work out new I&E's.

In our case the new figures showed we could no longer make payments -- we were half way through our arrangements -- but had the good fortune to have made extra payments ( overtime etc) and had PPI recovered.

Our creditors all agreed to "call it quits" and accepted payments made to date in full and final settlement.

So, all is not lost --- creditors and IP's are not ogres. Please contact Laura.

It's just me in the iva. Will look for lauras link thank you.

They have just had over 8000 in ppi from me which is well over my final amount owed.
Overtime is some what lacking from me as it's rare I get any and if I do its not alot and is eaten up in pension contributions.
I just don't know how to approach and ask and I fear it will fail and I will loose everything.

When you email Laura paste a link to this thread in the mail --- she will then see what the situation is and take it from there.

The amount owed - is that just for the IVA amount or the total debt owed.

Do agree that you need to speak to DFD.

It works out that the ppi payment is for the amount owed on the iva not the total debt

My anticipated dividend was 34 pence in the pound .... by virtue of PPI and overtime we had managed to make it to just over 32 pence in the pound by the time we split. So, as near as, the creditors got what they signed up for --- which must have helped with their decision.

how do i message laura? i cant find her profile or how to direct message via the forum? i see she has email but is there anyway i can do this via the forum first?

Laura may well pick up on this but you should try using the email that is on there as email is disabled on the forum.

thank you it is all appreciated

Dear stueyc,

Please contact me via the email address in my profile so I can take a look into your case and address your concerns.

Speak soon.

Thanks,

Laura

thank you again

Good advice from Foggy - hopefully Laura can help you. Best of luck.