IVA v BR - which way to go?

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MelanieGiles

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Post by MelanieGiles » Mon Sep 06, 2010 10:49 pm
No firm - be it creditor funded or independent should be steering you down one particular route - and I am personally rather disturbed by the story you tell her about one particular firm.

Our job as professionals is to merely provide advice as to options rather that steer down one particular route - regardless who is paying our fees. Sometimes, as Scirroco mentions, it takes longer to make the right decision - but remember this is about your future and the only person this decision is likely to affect is you.

Wish you well next week with the bankruptcy application Scirroco - and I just know you will feel a lot better to put all of this behind you. Hope the dogs are all well!
Regards, Melanie Giles, Insolvency Practitioner
 
 

kallis3

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Post by kallis3 » Tue Sep 07, 2010 8:51 am
Excellent post Dave. Look forward to a positive post once you've done the deed!

Mel, I totally agree. We had one firm tell us we had to go bankrupt (never an option given equity in the house) and another wouldn't do an IVA.

I am older and wiser now having found the forum and would always advocate getting two or three opinions.
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
 
 

charley_babe

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Post by charley_babe » Wed Sep 08, 2010 11:35 am
Hi again,

What effect does going BR have on taking out insurance? I applied for house insurance the other day and they asked if you had ever been BR. What effect will it have on insurance?

Thanks and apologies for asking so many questions

Charlotte
 
 

kallis3

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Post by kallis3 » Wed Sep 08, 2010 3:32 pm
You may find it difficult to get house insurance. For some reason companies think you are a greater risk. Don't know why - you're a safer bet than someone who is burying their head in the sand.
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
 
 

charley_babe

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Post by charley_babe » Wed Sep 08, 2010 3:52 pm
I wish burying my head in the sand was an option :(

Maybe I could get my dad to insure it for me? I know we are a risk - maybe they think we'll make claims up to get money?
 
 

kallis3

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Post by kallis3 » Wed Sep 08, 2010 4:01 pm
I think that is the reason why.

I know Skippy's other half (who has had no debt problems at all) found it difficult to get insurance because of her 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
 
 

charley_babe

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Post by charley_babe » Wed Sep 08, 2010 4:02 pm
That's the only negative thing I can think about the BR now. I wish i could win the lottery or something. That would be so much better.
 
 

kallis3

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Post by kallis3 » Wed Sep 08, 2010 4:05 pm
You and me both!

Hopefully Skippy will pick up on this and tell you how they got managed to sort out insurance.
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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