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sjbyron
Average Member
United Kingdom
746 Posts |
 Posted - 02 February 2009 : 19:47:15
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Hi
I would start by talking to an independent and free advice insolvency practitioner who can go through your options, or an small debt management company such as brightoak - Andrew Graveson is excellent (www.brightoak.co.uk) or even Paul Johns at Reviva he offers excellent, non-judgemental advice and also support.
Each of those can offer different products to from DMP to BR.
Hope that helps
Stu J Byron |
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Lizzie
New Member
United Kingdom
59 Posts |
Posted - 02 February 2009 : 20:30:47
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| Thank you so much Stu, I have passed the details of Brightoak and Reviva onto my OH who has at last realised he needs to talk to someone who can help us make the right decision. |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 02 February 2009 : 23:46:42
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Hi
definately worth speaking to the CAB first but as you are just starting to see there is a lot more to thing about thank simply Br .
IVA
Bankruptcy
Negotiated Settlement
Debt Management
a mix of negotiated settlement and debt management.
Everyone is different and every solution needs to be tailor made to your personal situation, job situation and future prospects.
We even have a number of clients who have 2 solutions running at the same time.
For example we are hoping not to go Br bu being able to sell a house / collect a bonus from work etc so negotiate wih creditors, however these are uncertain times so we are also preparing for BR so that if optiona a is unsuccessful we are ready with option b straight away.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
Real People ..... Real Debt Solutions
www.revivauk.com |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 03 February 2009 : 10:31:38
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Hey Lizzie
I would certainly try and get your hubby to make that call - everything will seem alot clearer once he has spoke in depth about your situation.
Take care
Jenny
xx
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
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Lizzie
New Member
United Kingdom
59 Posts |
Posted - 05 February 2009 : 21:29:36
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| Hubby has filled in all the forms from the CAB (he is keeping his options open at the moment)he delivered the forms to them today and they have sent him home with a form to be completed by me listing all my debts, even though I am not considering bk as I can pay my debts at this moment in time and I am not behind on payments. Is this normal practise for the CAB to request a partner to complete a debt form? Apparently once they have my form back they will call us both in for a interview. |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 05 February 2009 : 21:35:57
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Hi Lizzie
When i had an initial chat with the CAB they did exactly the same with me....once i sent the forms back in, they made an appointment with an Insolvency Pratitioner to do a interlocking iva with hubby, who could afford his debts!! (without telling me first)
I would ask why they need this information.
Is it possible that you have any joints debts that need attention ?
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
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Lizzie
New Member
United Kingdom
59 Posts |
Posted - 05 February 2009 : 21:44:48
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The only joint debt we have is the mortgage which I pay and is up to date. Infact all my bills are up to date. It is hubby who is behind with payments on some of his credit cards. All other bills ie utilities are all up to date.
I don't mind going along to the interview infact I would welcome it so I can hear first hand what they suggest, at the end of the day I am in a position to tell them I do not want an IVA or to go bk personally.
Lizzie |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 05 February 2009 : 21:47:26
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They will be looking to see if the household income (yours) can be used to settle OH's debts via an IVA or long term DMP.
Certainly worth going to see them and see what they come up with then if you need to you can get a little more feedback form the site.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
08454 751 851
Real People ..... Real Debt Solutions
www.revivauk.com |
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movin on
Average Member
United Kingdom
946 Posts |
Posted - 05 February 2009 : 21:51:27
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I definitely think its a good idea for you to go with your husband. That way if he forgets something you are there.
Onwards and Upwards is the way im going :-0)
From "Moneyworries" to "Movin On" in 3 months is fantastic :-))
xx |
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Lizzie
New Member
United Kingdom
59 Posts |
Posted - 05 February 2009 : 21:53:08
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Thanks Paul I have a feeling I will need feedback from this site and will certainly let you know what is happening....however its my income that settles all the household bills as well as pay my own credit cards, so nothing left over to settle husband's debts, however as my husband is still employed it would be no problem for him to have an IVA the big problem would come if he was made redundant which is on the cards.
Lizzie |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 05 February 2009 : 21:56:00
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Hi
if there is uncertainty about medium / long term job and income then an IVA is probably not the right solution yet.
This doesn't mean it is not right for the long term.
You may decide that a "holding Debt Management Plan" for him would be better until you were all sure that the job and therefore affordability of the IVA was likely.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
08454 751 851
Real People ..... Real Debt Solutions
www.revivauk.com |
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Lizzie
New Member
United Kingdom
59 Posts |
Posted - 05 February 2009 : 22:00:25
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Thank goodness I found this site....at least I will not be going into any meeting 'green' so to speak.
I just want to be sure we/him are not being forced into something that we feel we cannot sustain and end up in a worse position then if we/him had gone bk. |
Edited by - Lizzie on 05 February 2009 22:01:04 |
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Offer from Credit Card Company
