please advise as I am so unsure

[e_b]

i am recently going to apply for an iva but if i get refused and stop paying my creditors are you supposed to catch up on payments,when already you cannot afford them that is why i am applying for the iva in the first place. What happens next.

If if you are accepted into an iva., can bailiffs come around your house and take away items such as tvs etc. also if you meet someone while the iva is up and running and you get married there income doesnt come into the iva agreement as it is not there debt is it. could

someone please advise as i am so unsure.thanks

[DebtDummy]

e_b get some professional advice about an IVA and bankruptcy.
I can only speak from experience to answer your questions.
1. If your IVA is refused the first time modifications will be made and it will be renegotiated or re-presented again.
2..No, under an IVA bailliffs can't come to your door. ALL that creditor hassle ceases. Including the telephone contact and mail.
3. If you marry under the IVA then read Skippy13's reply below.

Now, please calm down and relax. I know that may be difficult to do, but you will take it more information when calm. Someone, an expert will come along and give you very good advice. This is a good forum.[:)]

All I have left is my humour.

[Skippy]

Hi e_b, I live with my partner and when I was filling out the IVA forms I had to provide details of his income and expenditure, although it wasn't included in my IVA. I think the main reason for this is the mortgage and all the bills are in his name, but I contribute to them so the IP needed proof of the bills. We are not married, and I have been advised by Oliver from Thomas Charles (in another post on the forum) that if we were to marry and he inherited any money during the term of my IVA then my creditors may be able to stake a claim.

I just thought this might be worth mentioning. Good luck with whatever you decide.

Three down, fifty seven to go until freedom!

[DebtDummy]

The inheritance would be involved , thanks Skippy13.
e_b try on this site:Social chat:Get to know other posters/need support. There is a post there titled 'after an iva' by baldyabg dated 13 Jan 2007. That may help you.Or do a search under baldyabg and locate it that way.

Good luck!

All I have left is my humour.

[Dominic]

baliffs can only enter your home if authorised by a court or acting on a courts behalf, debt collection agents cannot demand entry to your home and have no legal right to do so automatically.

[e_b]

Thank you

i was wondering has anybody had any dealings with debt free direct as i have notified them reg my financial state, they advised applying for an iva and opening a new bank acc somewhere else is it wise not to fill in the forms until i get the new account.

also once they have received all the documents how long does the process normally take.

i am a single parent of 2, part time worker and on tax credits will i be accepted i have about £27000 unsecured debt with about 7 creditors.

i do not want to go bankrupt thanks.

[freelili]

Hello eb

You sound really stressed. I can not help you with debt free direct I do not know of them. I think that you should get some advice from two or three companies regarding your problems, before you come to any conclusion. Some Iva companies are giving IP's a bad name and ask for several months of up front payments, only to have the IVA declined so be careful.

You should apply for a new basic bank account with no overdraft or credit products, this is standard. Make sure you do not owe money to the new bank or any of its related companies.

I believe that you should be in full time employment but every case is different and individual.

Either in IVA or bankruptcy no one comes into your home and takes away your everyday items. unless you have a priceless work of art or a rolls royce car. You cannot afford to pay your creditors so therefore the options are Debt management plan, IVA or bankruptcy.

Is there any reason why are afraid of bankruptcy? If you have no assets it just might be your best option. Boy was I scared when this option was mentioned to me, but its not that bad and I was on my way to court at the begining of January. Like you I too am a single mom.

Living on a tight budget with two children will be tough so make sure you are realistic in what you can afford to offer, therefore calculate your outgoings carefully.

The process usually takes 6-8 weeks if your case is straightforward and uncomplicated.

Youre not alone e b so dont be ashamed of your situation. I am not an expert just another person in debt, trying to do something about it. I was prompted to answer you as you sound so worried. It is a stressful time and we have all been there. Hopefully one of the experts will come forward to offer you more than I am able to.

Stay calm. easier said than done I know

Good luck keep posting

LILY

[DebtDummy]

Congratulations gemma! Keep us posted on how things work out.

Good luck!

All I have left is my humour.

[Oliver]

Excellent news Gemma.

Well done and good luck with everything.





Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[e_b]

Thank you

i was wondering has anybody had any dealings with debt free direct as i have notified them reg my financial state, they advised applying for an iva and opening a new bank acc somewhere else is it wise not to fill in the forms until i get the new account.

also once they have received all the documents how long does the process normally take.

i am a single parent of 2, part time worker and on tax credits will i be accepted i have about £27000 unsecured debt with about 7 creditors.

i do not want to go bankrupt thanks.

[iva.com]

You can see reviews of Debt Free Direct here:
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