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ling
Starting Member
United Kingdom
11 Posts |
 Posted - 02 August 2009 : 13:56:08
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| Hi!! I am in financial diffulties which is making me ill, I am considering Iva but has second thoughts whether I would be able to afford it as I have been on the sick for five weeks now due to stress (financially and relationship problems)I stopped my nurse training as I can't cope with stress. DFD sent me an information pack and I sent it back straight away, would I be able to "not go ahead with it"? as I realised that I might not be able to afford it as I only got apart-time job. I am considering instead BR but really confuse with my situation, which one to do. I have no asset and has a car on HP. Please could you give me an advice.Thanks!! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 02 August 2009 : 14:31:53
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Hi,
Sorry to hear about your illness and hope you are better soon.
If you feel that an IVA isn't right for you, then just ring DFD up and tell them you no longer wish to go ahead with it.
BR may very well be the best way forward for you. It will cost you £510 and you can fill the forms in online via this link:
https://www.insolvencydirect.gov.uk/isolv/
This site always here as well to answer any queries you may have and help you fill in the forms.
The glimmer gets brighter all the time
Jan
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 02 August 2009 : 20:32:12
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If you decide that an IVA is right you can't do any better than using Melanie Giles from JonesGiles. They are based in Cardiff and offer really top level professional advice.
They are not a call centre and are not trying to "hit targets".
If you decide that Br is right then you can get some useful advice here on the forum.
If your contributions for the IVA are less than £250 it probabably means that if anything goes wrong over the next 5 years ( car repairs, illness, etc etc ) thenh that in itself may cause the IVA to fail.
On the car HP front you may want to double check the finance agreement for the car. Sometimes you think they are HP but actually a Fixed Sum Loan agreement which means it is actually a personal loan and not linked to the car.
This may give you some options so worth checking and letting us know
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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ling
Starting Member
United Kingdom
11 Posts |
Posted - 05 August 2009 : 11:59:27
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| Thank everyone for some advice. When DFD calculated my income and expenditures, my disposable income was only about £111 but then I havent realised that they calculated it if I am doing full time hours but at the moment my contract hours is only part-time and was given a domestic leave for three months without pay but can come back to work after my three months. I havent rang the DFD people as I am really confuse with my situation, I havn't even started claiming benefits as of this month. About my car, I think it is Hire Purchase as the agreement says HIRE PURCHASE. |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 05 August 2009 : 21:15:58
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Hi Car is clearly HO so there is a strong liklihood that this will go back in Br. You also may find it difficult to continue to make these payments.
I would really encourage you to get signed on quickly as this may impact your income and then at least you can cover some of the basics.
At the minute you clearly cannot have an IVA, so I would suggest you wait a few weeks, review your income / job position and then decide.
Again I would really recommend you use the team at Jones Giles if you are to have an IVA. They come out top of almost every survey and are sensible and real people
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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ling
Starting Member
United Kingdom
11 Posts |
Posted - 05 August 2009 : 21:54:17
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Hi! Paul, I didnt quite understand what you mean by your first sentence "Hi Car is clearly HO so there is a strong liklihood that this will go back in Br. You also may find it difficult to continue to make these payments." I thought if it is on HP the official receiver is not interested and I will have to return it to the company where I got it from. At the moment I'm off work because of depression(cannot handle my work load while my mental state is unstable. This financial problem arises due to my depression.Would I be able to speak to you regarding my very confused situation?I am worried as well as I have missed a couple of payments to all my creditors, how long will it take before a bailiff come to my house?
I have opened a new basic acct with halifax but have not activated it yet, is it safe to use it,ie to have my tax credit and child benefit paid into it and some direct debits if I apply for BR. |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 05 August 2009 : 23:23:42
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Hi
my apologies I meant to type HP rather than HO.
Very happy to have a conversation with you . Perhaps we can work through the problems and help you get a plan and timescale together.
If you would like me to call I can be contacted via my web page on the contact us section.
take care
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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Hi!! I am in financial diffulties
