Declined full and final, I am nearly 2 years into an IVA of 5 years which had repayments due of £7700 , I pay £137 a month and never missed a payment, however I suffer with PTSD and it has come back big time, due to this I need to retire, I am a 65 yrs old female, will get £100 private pension no lump sum and state pension next March, I offered £4000 being offered by family , member, variation meeting tomorrow but already had email saying rejected, is this normal, ? And what can I do, do not own property or car, ?
No it is not normal -- but, if the votes already cast make it a certainty they will sometimes pre-warn you. They should, in the meantime, earn some of their fees by trying to change minds, get non-voters to weigh in or seeking a counter offer ... maybe they say no to £4k, but would say yes to £5k.
With work stopping and no assets you could go bankrupt and they will, in the long run, get far less ---- your IP could well point that out to them.
How much are your actual debts ? Maybe, if you can get the figures right, a DRO would be worth looking at (similar to bankruptcy, but with no payments to make and all over in 12 months --- as well as costing £90 instead of £750 --- but you have to meet the criteria.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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
