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bennieblueeyes
Junior Member
211 Posts |
 Posted - 04 June 2008 : 13:39:55
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| I have an IVA At the time of taking it out I was not in any arrears with anything. I have been paying this for two years now. They have constantly been trying to get more money from me every month this has led to time off work with stress. I will be retiring in december this year and will only have a state pension (not a full one ) and will not be able to pay the IVA. they were not interested in this at the time of taking out the iva. The Iva was not appropriate for me. I do not own a house and have no assets. I will have to declare bankruptcy will this be possible to do. |
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 04 June 2008 : 13:52:56
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Hi bennieblueeyes (great name!) - welcome to the forum.
I too have recently gone BR after a failed IVA - so yes it is possible.
Your IVA has to "fail" and your IP issue you with a letter or certificate to present to the judge with your BR petition.
It seems like this may happen in September anyway when your income decreases.
I stopped paying my IVA payments in Jan this year to save up the BR fee and declared myself BR in April. My IP declared my IVA as having defaulted and the judge accepted this with my BR petition.
Under BR there is a much more realistic view of your disposable income - unlike an IVA!
If you can wait for one of the BR assist experts to come on line they will be able to advise you futher.
Hope I have helped a little in the meantime.
Vicki x |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 04 June 2008 : 14:41:02
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Hi benieblueeyes,
As Vicki mentions this will be possible due to your circumstances and if you have no property and little assets it looks like this may well be the most suitable road for you to go down.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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bennieblueeyes
Junior Member
211 Posts |
Posted - 05 June 2008 : 14:27:17
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Thank you very much Vicki and to Brett England. I do feel re-assured now. My last payment would be December as I retire in January. Is it ok for me to keep November and December's IVA money to pay for the bankruptcy at the Court. I have no other way of raising any extra cash.
This IVA company was very dishonest in dealing with me. I am now into my third year and not a penny has been given to my debtors. I am still paying the fee to the IVA company! I would advise anyone else to think very carefully before entering into an IVA. I would have been better off negotiating with the people I owed money to, as I would rather they had the £6000 I have already paid and not the IVA company. Hindsight is a great thing. Once again thank you all for your help I was feeling so confused and frightened. bennieblueeyes. |
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bennieblueeyes
Junior Member
211 Posts |
Posted - 05 June 2008 : 14:48:59
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To Brett England, I have just read your profile and do now realise there are decent people out there. I feel I am surounded by sharks that see someone vulnerable and try to get everything they can out of you. I have been contacted now by people offering to get me out of my IVA by paying them £1100. When I said no they tried to scare me by saying I will be in trouble through certain laws etc. This is why I have come onto the forum. I want to be pro-active and take control.
Thank you for your kindness. |
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m and v
Average Member
United Kingdom
760 Posts |
Posted - 05 June 2008 : 15:13:03
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Hi bennieblueeyes
Reading your post is just like reading my first posts.
My creditors have had just £2500 of the £8500 I paid into my IVA before going BR.
My crediotrs missed out on a £25k lump sum because my IP rejected it.
I too was contacted by a company -Bankruptcy UK - and I too turned them down. Ignore them!
I have petitioned my own BR with Brett's direct support and through posts on this forum.
And finally I held onto 3 months payments to get money together for my BR. No-one questioned that - not the judge or the OR.
By the way, you will need a letter/certificate from your IP stating your IVA has defaulted and failed to give to the judge(I am sure they will soon send one out when you tell them you are petitioning your own BR - mine did!!)
Whatever you decide to do you will get lots of support - just think a debt free 2009!!
Vicki x |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 05 June 2008 : 15:45:53
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Hi Bennieblueeyes,
You will be ok to use the two months payments for your petition cost and thank you for your kind words, unfortunately it is these companies that give my industry a bad name.
These companies tend to prey on people who really don't need the help.
There are people out there who do need help advice and assistance whereby we do charge a fee, but this is relative to their situation and it infuriates me when someone such as yourself and Vicki are pushed into a product that you really do not need, just because they see the ability to obtain a fee.
If someone has no assets and little income then they really are in a position to declare their own Bankruptcy without paying a fee.
The staff within my company are told to give the free advice to people such as yourselves as one day you may find someone who does need hand held assistance and would refer them to us.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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bennieblueeyes
Junior Member
211 Posts |
Posted - 06 June 2008 : 09:34:21
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Thank you Mr Brett England. I wish I had known about people like you before. I will certainly recomend your company in the future and will keep your company address on my computer. Some of these sharks do give company's like yours a bad name and I know an IVA is a good solution to those it fits. Thank you also for sharing your story.
All I did was make enquiries on line as to how to go about handling my debts. I did not owe a vast amount to begin with. I then had long phone calls ( 30 mins or more )telling me how great life would be if I allowed them to help me. I was reeled in so to speak. I was lied to and was not told the amount they would charge even though I asked. At least now I can take control and know what to do.
Thank you Vicki for your support it is so nice of you to take the time to reply to me. In turn I hope I can also be a support to others on this site. |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 06 June 2008 : 09:53:32
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Brett and Vicki, great advice as usual! Keep up the good work.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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iva not appropriate for me.
