CHANGING MY MIND ?

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ashb

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Post by ashb » Mon Aug 02, 2010 4:46 pm
I have been in my IVA for one year and its going ok. However as I am 57 years of age another 4 years will bring me up to 61 which leaves me only 4 years to retirement. I am actually thinking why should I not go down the BR road and at least reduce the four years whic will give me a few more years to save up for my retirement.

I know what everyone will say and how we should give as much back to our creditors but I also have to do as much as I can to make my life after retirement as best as I can. If i was 30 yeras of age I would not even think about this. My IVA was due to my business failing and not over spending on credit cards and loans but the downturn in the economy.

I wonder if anyone else has been in this position also?
 
 

kallis3

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Post by kallis3 » Mon Aug 02, 2010 4:50 pm
The choice is totally down to you. I don't blame you for wanting to secure your retirement.

Do you have any assets that might be at risk if you chose to go BR?
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
 
 

terrytibs55

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Post by terrytibs55 » Mon Aug 02, 2010 4:53 pm
I was in the same situation and i went into an iva. I went bankrupt and got the help of Integrity Debt Soltuions, they gave me great advice which was fair and made me realise that i should have gone bankrupt in the first place.

*Link deleted* - advertising not allowed.
Last edited by terrytibs55 on Mon Aug 02, 2010 4:58 pm, edited 1 time in total.
 
 

ashb

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Post by ashb » Mon Aug 02, 2010 4:56 pm
thanks everyone. I do want to pay as much back as I can but to be blatatly honest a BR could be completed in 12 months that means I could save the extra three years which would total neary 20k and to be frank that would go along way to help me in my retirement. I know its really not the right thing to do but its a bit like sink or swim and one has to survive, I feel bad about this thought.
 
 

kallis3

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Post by kallis3 » Mon Aug 02, 2010 5:00 pm
Don't worry about it - do what is right for you.

However, if you do decide to do the BR route, you can do it for yourself, don't use any of these companies who will charge you a fortune. There is always someone on the forum who can help you with the forms.
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
 
 

ashb

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Post by ashb » Mon Aug 02, 2010 5:02 pm
Thanks Kallis.

I have not made my mind up and need to look at the impact of BR and also how my work will be affected, but I would rather they didnt know to be honest
 
 

kallis3

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Post by kallis3 » Mon Aug 02, 2010 5:14 pm
Either check on your intranet if you have one, check your contract or make an anonymous call to your HR department.

Just remember that we are here for you with any questions.
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
 
 

MelanieGiles

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Post by MelanieGiles » Mon Aug 02, 2010 10:07 pm
It is really a matter of personal choice, and I don't think that anyone would criticise you for choosing bankruptcy as a preferred route - expecially given the circumstances you describe.

It should be remembered that bankruptcy is a process for anyone with unaffordable debt to benefit from them, if they choose to exercise that choice.
Regards, Melanie Giles, Insolvency Practitioner
 
 

terrytibs55

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Post by terrytibs55 » Tue Aug 03, 2010 11:21 am
To be honest i would definately take a look at integrity debt solutions. They solved our problems and we received nothing but the best service and help. Alot of people we have spoken to on different forums recommended them and even martin lewis does. So that must say something.
 
 

Skippy

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Post by Skippy » Tue Aug 03, 2010 11:25 am
Ashb, if you feel that BR is the best option for you, speak to your IP in the first instance.

There is no need to pay another company to help you.
 
 

kallis3

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Post by kallis3 » Tue Aug 03, 2010 4:45 pm
Ashb,

If you do decide on BR, please don't use any of these firms to help you.

We can assist free of charge.
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
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