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Post by Johns » Mon May 17, 2010 4:46 am
Hi All
It is looking like me and my wife are going to be seperating
and I was wondering what to do in regards to a joint IVA at the
moment we owe £29000 proposed amount and we pay £335 per month
each but we will need to find somewhere to live and if we were
to rent somewhere then we have no way of having anything left
as we would both have to pay council tax water rent gas so on
which at the moment we share everything between us.
We are both due to get personal injury compensation which should
be around £6000 which my IP said we would keep as we have only claimed for the injuries so I was wondering if my wife sold her
car for around 4-5000 if we offered £10000 plus a couple of more
payments of £670 until we both find somewhere to live is this likely
to be accepted or will they just make us bankrupt as it does say that if we fall 2 payments in arrears then they will automaticaly file for bankruptcy.



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Post by Shining » Mon May 17, 2010 7:26 am
Hi Johns, I'm sorry to hear about your separation. I would definitely talk directly with your IP and run this by them and they might have a solution too. I'm sure there will be a solution for you both. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.


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Post by MelanieGiles » Mon May 17, 2010 9:47 am
Given your changed circumstances, I am sure that any offer to creditors is worthy of being put forward.
Regards, Melanie Giles, Insolvency Practitioner


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Post by L-E-E » Mon May 17, 2010 12:00 pm
As Melanie mentioned, Any offer that you put forward would have to be considered. If you were in a situation where your finances had improved you would probably have to increase the payments into your IVA and if your circumstances change for the worse then you can look to adjust the repayments to a level you can afford.

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