www.iva.co.uk

We have just filled out an intial questionnaire with an insolvency company and are awaiting a meeting with them to sign paperwork. We have £30000 approx worth of debt which started about 4 years ago when our daughter died and we both fell apart and were unable to work, its escalated from then really.

We are constantly stressed and worry about money and we have 2 other children to support. We owe money to the Abbey on a personal loan and we have 2 credit cards, Mint and Virgin(MBNA) and 3 diff store cards and HP on a sofa and owe council tax. We are getting debt collectors letters and threats of baliffs, etc. and are living in fear of phone calls and people knocking on the door.

How long does an IVA usually take to go through? and what do you think our chances of getting it are?

Hey Minky, welcome to the forum. I'm sorry to hear about you daughter. IVAs can be set up quite quickly if you provide all of the information as quick as you can but you shouldn't rush into anything.

You should have been advise about banruptcy and a debt mangement plan and I would take your time to go through any paperwork that you receive. It takes months for a debt collector to come out and you don't have to answer the phone.

How much disposable income do you think you have for an IVA and are you working now? X

Hi
I can totally understand your reasons fore getting into debt and am sure that your creditors will feel the same
Normally takes 6 to 8 weeks.
Can you let us know your disposible income and are you homeowners
Regards

Hi Minky and welcome to the forum. I completely understand why you got into debt, and like Andy says I am sure your creditors will too. Good luck with your IVA proposal, and please make sure you consider all of your options - IVA, bankruptcy and DMP - and do what is right for you.

hi minky...so sorry to hear about your daughter and your situation
i hope you get some thing sorted out and can move on....
take care

hi minky!

so sorry to hear about your daughter! i hope that you can get your iva sorted soon!

love barb x

How awful for you, and how difficult for others to contemplate how the last four years have been for you.

An IVA can be put together relatively quickly, I just did one for a client in 24 hours as she had bailiffs about to take all of her trading stock, but it really depends on how quickly you can get all of the documentation together. Most IVAs will take between 4 and 8 weeks to be processed.

Hi Minky ... just wanted to say welcome to the Forum, and I so hope that you find a solution to your debt situation as you well deserve to do.

Keep in touch and let us know how you get on ... and remember that you are amongst friends here, so keep posting and ask questions for we are all here to support you through.

Debbie

i have been working through the process for about the last 10 weeks and recently found out i am using an intermediary (Thomas Charles).
on friday I was told we are ready to present our case to an IP - Philip Gill (?). We have been given a letter of authority to send to each creditor to ask them to deal with My Gill going forward. Does this mean we are close to getting a date for our IVA to be presented properly to the creditors?

Sorry to hear about your daughter Minky - we lost one of our twin boys, and this is the reeason i believe we started to get into debt. my wife was diagnosed as severely depressed and stopped working for several years, returning only part time ever since. Unfortunately she had three subsequent mis-carriages too.

Debt and IVA are terrible, but nothing compared to the loss of a child. we got through that (Kinda) - we can get through this

Hi
You are probabaly about 3-4 weeks away from a creditors meeting
Good luck

thanks Andy - just realised it is Melanies' firm we are being dealt with. We are originally through Thomas Charles intermediaries - is this likely to have resulted in a time lag (Just out of curiosity)?

Hi
Thomas Charles do much of the "leg" work and then decide on the most suitable IP to put your case to.
I have met Philip and can assure you that you are in safe hands
Regards

Hi Minky and hello and welcome from me too.
The pain of losing a child is unimaginable to me, I am so sorry to hear this.
Our iva took 7 weeks from first phone call. You have a great company and IP dealing with you, so I am sure you will be fine. Keep posting there is always someone here to answer.
Ang xx

Philip Gill & Co is my specialist insolvency practice which deals with more complex or self-employed cases. I shall look forward to receiving your details.

Hello All,

Thanks so much for your kind thoughts, its nice to know your not alone. We (hubby and I) have a meeting with the IP tomorrow (tues 26th) although we have already sent him details via email, i think he wants to go through all the options. Im just hoping we can sort it out asap, as Friday(22nd) i came home to a court summons from the Council tax for this year (although its not even over yet!) because we had missed two payments they now want the whole year paid in full in the next 7 days and they have set a court date for 3rd Sept. I spent about an hour crying and the rest drowning my sorrows on cheap cidar! Its scary, as we have never been in this trouble before. Worse still my parents keep asking whats wrong and i dont want to tell them, fear of worrying them and disappointing them i suppose!
I just want this worry and stress to be over with!!!! What happens in the meantime while we are waiting for the IP guy to sort out IVA (if this is the way forward) with the court summons? Do i have to attend, arhhhhhhh!!! Scared!!!