Done new ie as change of circumstances split up with partner.

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ashbock123

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Post by ashbock123 » Fri Jul 27, 2018 3:44 pm
Recently split with partner with my children and have had to rent my own place and done a new ie as things have changed and gone up and down with child maintenance and that my available has gone from £170 a month to £7 a month. I have no assets or anything what would the next step be please any info would be helpful. Stressful times the last month has been

Foggy

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Post by Foggy » Fri Jul 27, 2018 4:17 pm
If your disposable income is truly around £7 per month the IVA is unsustainable and you need to think about it failing and planning next steps. This could be a DMP, but I doubt even this would be affordable. Alternatives next would be a DRO if the debt is below the £20k threshold or full blown BR as you have no assets to protect -- the only proviso with BR is that it is acceptable in your line of work.


https://www.iva.co.uk/debt-relief-order

https://www.iva.co.uk/bankruptcy
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

ashbock123

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Joined: Fri Sep 08, 2017 7:54 pm

Post by ashbock123 » Fri Jul 27, 2018 4:26 pm
Have read up the br is ok in my line of work will just have to wait for them to come back with form that I have sent off to see what they say. Just really getting me down and upset at mo and got this to deal with and break up hurting so much

Foggy

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Post by Foggy » Fri Jul 27, 2018 4:32 pm
ashbock123 wrote:
Have read up the br is ok in my line of work will just have to wait for them to come back with form that I have sent off to see what they say. Just really getting me down and upset at mo and got this to deal with and break up hurting so much

I broke up mid IVA and became a full time sole single parent ---- I looked at it as starting again, debt free and able to move forward. Still hurts - always will - but life is still good.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

ashbock123

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Joined: Fri Sep 08, 2017 7:54 pm

Post by ashbock123 » Fri Jul 27, 2018 4:43 pm
I have done a year on my iva and was running fine and thought things where looking up. Just feel so down and depressed now.

kallis3

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Post by kallis3 » Fri Jul 27, 2018 5:00 pm
Sorry to hear of your breakup but do agree that you should consider BR. or DRO.
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

ashbock123

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Joined: Fri Sep 08, 2017 7:54 pm

Post by ashbock123 » Fri Jul 27, 2018 6:43 pm
Do I wait for them to get back too me and how do I go about BR at all

Foggy

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Post by Foggy » Fri Jul 27, 2018 7:00 pm
ashbock123 wrote:
Do I wait for them to get back too me and how do I go about BR at all
Wait for them to get back to you to discuss it. They should be able to help you with BR, at least point you in the right direction.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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