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Paul.rw
Starting Member
3 Posts |
 Posted - 23 June 2013 : 12:32:21
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My wife and I are currently under a IVA agreement and are just over a year in for a 6yr plan.
We're having issues with our IP, we've been sold on once and having spoken to friends who went through bankruptcy and we're wondering maybe this would be a better option for us
Any advice or pointers would be greatly appreciated |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 June 2013 : 12:52:30
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Hi and welcome to the forum.
Which IP are you with and what problems are you having? Do you have any assets which might be at risk with bankruptcy?
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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Paul.rw
Starting Member
3 Posts |
Posted - 23 June 2013 : 12:59:41
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We're currently with kingsgate. Problems include the first year report showing we was @£3000 in arrears but having missed no payments no one can answer why. We're unable to speak to the same person twice, to be honest we feel very "alone" in trying to sort stuff
We're renting at the mo, the only real asset is my £800 car...
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 June 2013 : 13:10:04
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Your car should be ok at that value.
Try emailing your IP directly via this link:
http://www.insolvencydirect.bis.gov.uk/fip1/
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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Paul.rw
Starting Member
3 Posts |
Posted - 23 June 2013 : 13:15:38
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We haven't any issue with contacting them, we've just lost all faith in them.
If we have to stick with them and battle through, then that is what we'll do, however there has to be other options?
I know being inside the iva is better than having the creditors at the door, but it feels like they've taken their fees and they don't really want to know anymore
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 23 June 2013 : 17:29:14
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If you go bankrupt then you will have to let the IVA fail and of course you will probably end up with an IPA for three years which may well be as much as your IVA payment is now and your credit rating will be shot for a further six years.
Get them to tell you where these arrears have come from - contact the IP directly.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 24 June 2013 : 09:40:39
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Hi Paul,
As Niobe has said, you really need to speak directly to your IP and voice your concerns. He/She needs to explain to you where the arrears have come from.
If you really think that you made the wrong decision in choosing an IVA, then your IP should be able to give you some good advice about bankruptcy.
Pop over to our sister forum iva.co.uk and post on there too, you will get lots of support on both these sites.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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We are wondering maybe bankruptcy would be a better option. Having issues with our IP.
