Help!!!!

LuckyBiscuit

Hi guys!!!
Been reading on the site for a while and wanted some advise from you fab people!!!;)
Hubby and I have been in a IVA for 2 1/2 years now got approx 44.000 debt and paying 490 a month, the thing is i hate my job with a passion, come home most days crying, I want to go back to colledge to be a nurse (im now 35)!!!
If i leave my job obviously income decreases and we'll have to go on benefits (we have 2 children)
what i want to know is it fasiable to continue with our IVA, if one of us is not employed as before we took out our IVA they couldn't set it up until i was employed which is why i got this crappy job, we have no assets, exept a £500 car. or should i stick out the job until IVA end's.

Here's Hoping!!!!!

TMven

Broken_hearted

If the IVA fails you will end up bankrupt as you have no assets that shouldn't be a probelm.

Deep_In_Debt

Speak to CCCS, National Debtline or CAB. They will give you free impartial advice.

I'm not a big fan of IVA's having nearly gone for one myself which I'm glad I didn't as my circumstances have changed considerably in the last few months.

It may be worth going bankrupt but the debt charities will advise you.

Good luck.

LuckyBiscuit

I had thought about Bankruptcy but weve already paid so much money i would feel sick if it failed now, for the sake of 2 1/2 years and would feel like starting again.

Deep_In_Debt

I can fully understand how you feel. The bankruptcy board has loads of people who have been in a similar situation so it might be worth popping over there to see if they can help. Bankruptcy may be an option for you. It's not necessarily an easy option but at least you will be able to start again.

That's one reason why IVA's are not a good idea. IVA companies make a lot of money out of them; very profitable business and suitable only for a very small percentage of people.

I do suggest you contact one of the debt charities though. They will advise what's best for you. CCCS have an online Debt Remedy which might give you some ideas as to the next course of action.

milliemonster

Hi TMVen

I qualified as a nurse 12 years ago although I'm not practising at the moment, if I were you hun I would keep going with the IVA, to be honest if you apply for nursing you could be waiting a while anyway (I had to wait 18 months) and for the sake of putting up with another 2.5 years when you have the rest of your life ahead of you, I would keep going

good luck

LuckyBiscuit

I would have to do a full time access course first, sorry what do you mean you waited for 18months, im changing my mind now, but im working in retail and although due to be promoted to trainee management i hate it!!!
im thinking it would be best to stick it out (my IVA and job) but is it possible to ask for a reduction in amount its crippling us and we [EMAIL="didn@t"]didn@t[/EMAIL] pay this months as son goes to seniors this year and uniform cost a small fortune!!!