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double-h

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Post by double-h » Sat Jan 29, 2011 4:26 pm
Yes we were dealing with 2 companies throughout until the latter end of 2010.

Things are not great at all, along with this situation, we have pregnancy, cancer, and job loss facing us to deal with.

None of which besides pregnancy I would wish anyone to go through.

Prob my las post here so thanks to all of you who gave advice and support.

Bye.
 
 

kallis3

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Post by kallis3 » Sat Jan 29, 2011 4:28 pm
This isn't good, but please don't leave us. Someone will be able to advise you, or speak to another company who will hopefully sort something out for you.
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
 
 

Broke of London

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Post by Broke of London » Sat Jan 29, 2011 4:31 pm
IT'S JUST MONEY!!!! BR will give you the opportunity to enjoy your young family without worring about debts or how you're going to put food on the table. Isn't that something to feel positive about?

I understand that BR can sound awful but take a look at Skippy's blog in the Member Blogs section. Her journey through BR shows it isn't as bad as all that. And to be honest, when I read it, it sounded pretty much like an IVA except its over quicker.

You'd be staring down the barrel of five or six years if you were proposing an IVA. But in three years max you will be completely debt free - that's another reason to feel positive!

Stop thinking silly thoughts and play with the baby! Remind yourself what's really important!!
 
 

Broke of London

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Post by Broke of London » Sat Jan 29, 2011 4:38 pm
I only just saw your last post - do stick around for moral support until one of the professionals turns up to advise you. Skippy's blog may be just what you need.

Congratulations on the pregnancy - you now have three very good reasons to stick around. There are times when everything hits you all at once, but you have your family by your side and together you will come through this and enjoy seeing your children grow up.

You may also want to speak to your doctor if you are struggling to cope with everything. They can help with medication to help you until life settles down again or refer you to someone who can talk through all these situations with you.

((((Big bear hug)))
 
 

kallis3

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Post by kallis3 » Sat Jan 29, 2011 4:39 pm
It does depend upon assets sometimes, if the house is in negative equity then it is worth looking at. If there is equity then advice needs to be sought.

The rules have changed recently so the OR will keep looking at a house for two years and three months before deciding what to do with it.

Julie also has a blog which is worth looking at.
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
 
 

double-h

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Post by double-h » Sat Jan 29, 2011 6:47 pm
Negative equity.
No savings.
No assets.

No more energy left to fight frankly.
 
 

kallis3

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Post by kallis3 » Sat Jan 29, 2011 7:30 pm
To be honest I think bankruptcy would be the best thing for you - a weight will be lifted off your shoulders and you can start again.

You have tried your best but there is only so much you can do.

Nobody will think any the worse of you if you go bankrupt.
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
 
 

Broke of London

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Post by Broke of London » Sat Jan 29, 2011 7:40 pm
Glad to see you back double-h. I can feel your despair, but honestly think you have received some very sound advice. BR will be better than being hounded by creditors and you will be able to plan a future for your family...holidays, Disneyland and all the things financial freedom will bring you.

Do you mind telling us why you are finding BR hard to accept? It may be cathartic to write it down and posters with experience of BR can allay some of your specific concerns.
 
 

double-h

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Post by double-h » Sun Jan 30, 2011 11:26 am
Well, the fact that obtaining a mortgage will be nigh on impossible, given we will be a fam of 4 in a small 2 bed house.
I will not be able to earn any extra income from overtime for essentials we just do not have.
Potential loss of job due to the bankruptcy.
 
 

kallis3

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Post by kallis3 » Sun Jan 30, 2011 11:33 am
It might be an idea to look at renting a larger house before you go BR if that is the route you decide to take.

What is your line of business?
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
 
 

double-h

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Post by double-h » Sun Jan 30, 2011 1:16 pm
Renting a larger house is completely out of the question, it'll cost around £1000 per month for that an that is several hundred more than our int only mortgage so appreciate the the suggestion but we considered and dismissed this along time ago.

I am a council worker.
 
 

kallis3

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Post by kallis3 » Sun Jan 30, 2011 1:18 pm
You may be ok jobwise - perhaps a good idea to look at your intranet site at work to see what the criteria is?

I work for the police and whilst bankruptcy is frowned upon I wouldn't lose my job if it happened.
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
 
 

Rosepetal

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Post by Rosepetal » Sun Jan 30, 2011 2:15 pm
Hi, i can feel your dispair,hear it in your post. i feel overwhelmed to with my own situation. we are hoping to do a F&F iva with help from my parents(got to re pay it as it's their pension pot),we've been told our income left over is too low& fluctuates too much for a company to do the 5/6 yrs IVA[V]0 so, if this doesn't go through we will have to go BR.

the strain of it all is very hard,exhausting.
you sound overwhelmed. don't give up. you can't leave your partner alone in all of this,you need each other.

talk to your Doctor. visit this board,people care& are full of knowledge about it all.
hang on in there,big hug x
Nothing stays the same...everything changes..hang on in there!
 
 

Broke of London

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Post by Broke of London » Sun Jan 30, 2011 3:04 pm
Hi double-h,

It is nigh on impossible for anyone to get a mortgage right now and don't think IVAs and BR are treated any differently anymore in this regard. In BR your payment term will be up sooner and you can start rebuilding your credit record sooner so you may well end up better off than those of us in IVAs.


Has it been confirmed to you that 100% of overtime will need to be offered to your creditors?

Your job may well not be affected by BR - a quick look on your intranet and staff handbook should confirm this for you.

I hope you're feeling a bit better today x
 
 

kallis3

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Post by kallis3 » Sun Jan 30, 2011 3:07 pm
With BR your credit rating will be stuffed for six years, the same as those of us in an IVA.
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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