Any input much appreciated

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kieser

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Post by kieser » Thu Aug 19, 2010 5:02 pm
Hi,havent been on here for a while,last oct i had my pay cut, my partners business had to close so we contacted our iva company to talk about lowering are payments.we have been paying £302 since nov 2009 instead of our £500 as agreed.we are in our last year & have been trying to remortgage without hope.after 8 mths my iva company have finally agreed that we cannot remortgage.

They have today given me these options(our iva was 54 pence in the £)
bankruptcy - creditors would receive 11 pence in the £
12mths extension - creditors would receive 16 pence in the £
24 mths extension - creditors would receive 19 pence in the £

But this all rests on us getting a property valuation below £125.000.If its any higher then i dont know what will happen

I really do not want to go with the 24mths extension as we have struggled the last 4 years with the end now in sight,im annoyed that none off this was our fault(recession etc etc)& after all of these years we may face bankruptcy in our last year of the iva.I want to avoid bankruptcy at all costs as i dont think its fair that we went into the iva to avoid bankruptcy.
 
 

Julie

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Post by Julie » Thu Aug 19, 2010 6:22 pm
Hi Kieser,

I think it would be unfair for you to be forced in BR at this stage...

Has your IP considered approaching your creditors to see if they will end your IVA early based on payments you have already made?
 
 

kieser

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Post by kieser » Thu Aug 19, 2010 8:36 pm
Synergi,i thought things would improve since they were taken over last year but ive been waiting 8 mths for them to do anything.
 
 

kieser

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Post by kieser » Thu Aug 19, 2010 8:38 pm
I agree with the 12 mth extension but thats only if we can get our house valued under £125,000.If it comes in over that price im getting the feeling as we cannot remortgage we might be forced down the bankruptcy route.
 
 

size5

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Post by size5 » Fri Aug 20, 2010 9:10 am
I cannot identify you from your forum name, but if you would care to contact me directly, my details are in the experts section on the left, then I will follow this up for you if you wish.

Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself

Follow my tweets at http://twitter.com/debtmastersize5
 
 

kieser

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Post by kieser » Tue Aug 24, 2010 7:19 pm
WOW,would like to personally thank size5 for his extremely quick input into are concerns,everything now sorted & our variation meeting now set for Sept,how valuble is this site.Many thanks
 
 

kallis3

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Post by kallis3 » Tue Aug 24, 2010 7:28 pm
Excellent! Good luck for the meeting and let us know how it goes.
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
 
 

MRBLUESKY

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Post by MRBLUESKY » Tue Aug 24, 2010 9:49 pm
good luck keiser,owdo mike.
 
 

Shining

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Post by Shining » Tue Aug 24, 2010 9:57 pm
The power of the forum and a big helping hand from Size 5, hope it all goes well for you x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

St75

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Post by St75 » Wed Aug 25, 2010 10:10 am
This topic just shows how valuable this site really is for those in an IVA and for those considering going into an IVA.

Excellent news, Kieser - I hope your variation meeting goes well.
regards
st75

Started lump sum IVA in Aug 2010 - received certificate of completion April 2011, thanks to Melanie & team
 
 

Julie

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Post by Julie » Wed Aug 25, 2010 7:30 pm
Well done to size5 and good luck Kieser...please keep us updated xx
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