Help please....

oliviarosejackson

Thank you all for the replys. Really does mean alot that people take the time out to help others.

I know I shouldnt worry about what people think about me. I am a typical worrier though.....

I know it is the best option in the long run for my and my daughter. I will be able to start afresh then. Does anyone know what will happen about the IVA failing?? How long does it take to fail before you can go BR??

skylight

Who gives a stuff what someone else thinks?? And all the forms and stuff, we were all worried about it, some more than others, but its all natural!

You really should ring up your county court and ask them about the failed IVA certificate. If your court wants one, then you will need one and it may be a fight to get it. Some people get theirs easily but from posts I have read here, its not all that straight forward as I think you need 3 failed payments for it to even be classed as failed, then perhaps the fight to get the certificate.But check your IVA contract thingie. If your court does not need the certificate then great, cos you can do the BR thing when you want to.

Your creditors will probably start calling again if you have to wait, but so what? There is nothing they can do anyway and its all going into the BR pot at the end of the day. Just deep breaths and deal with them.

oliviarosejackson

Thanks for that skylight. I shouldnt worry about other ppl, I should just worry about myself and my daughter. And we will have a better quality of life if I do go BR.

What happens if my court do not need the IVA failed certificate?? Do I need to have the 3 failed payments before I can go BR?? Or can I do it straight away??

Also, what do I do about the the debts. As i dont have the documents anymore, I only have a rough idea of how much each of them are...

shadowdragon

I agree you do whats right for you and not worry about other people, although I will mention that I have read on here before that if you are in an IVA you ahve to wait until its failed before being able to go bankrupt. I would check it out thoroughly whatever you decide.

Rylynn

Hi,-

Okay I have been lurking around since June, will start my own thread on situation now but thought I may be of some use to you Olivia.

Who is your IVA with? I know it should make no difference but I think some companies are better than others.

I think you will have to stop paying it, but depending who it is with you may find they will give you advice, and that may be you need to go BR.

Now you may find this odd, but that is what has happened to me, however I had not been able to pay for a year due to illness, it then carried on not being paid for a further 6 months as I can now only work less hours again due to illness. So at the 18 month stage I was told over the phone the IVA was going to fail. It has now taken them til September the 3rd to send out the documentation ie the certificate that it has failed, this has also been sent to my court. Whilst I was not paying the IVA (but they did know I was off ill) I had no contact from any creditors until August when I got 3 seperate letters saying that my debts had been sold on, rather odd I thought, but they said they did not need a reply as they were dealing with my bankruptcy person, even odder as I had not filed for BR. I left it til I got this latest letter from the IVA people.

Like you I have no documents from the debts I was in, I had thought stupidly that I would make the payments over the 5 years and it would be a done deal and gone. Wrong, but I have to say in with the certificate is a list of all my creditors, the amount I owed in 2005 and what has now been paid to them, and also gives the reference numbers for each.

It may be worth you phoning who you are with and asking have they got a bankruptcy advisor as you can no longer pay the IVA, but DO NOT offer to pay for their services, and if asked to say NO thanks and go to the charity ones listed on here. I was put through to a person who was extremely helpful in June, he explained it all to me, but bear in mind he knew my IVA had failed, even though it took them another 3 months to put it it writing.

As for other people, sorry stuff other people, you have to do what is right for you and your daughter, that is all that counts. I am in the same boat as you with the forms and things now but I know this site is here to give us help and support, but the decision as to what to do has to be yours.

So my advice would be to NOT pay the IVA and let them know why, you cannot afford to any longer and see what they then say. They have to fail YOU not you fail them if you get me. They also list on the certificate WHY you have failed it. I did not know any of this until last week when I got mine. If you want to know what it says I will post it up in here for you, ie copy it out.

You already know what it is like to have an IVA and to be honest like you I was missold one, I have no assets only a car I need to get to work in, I realise now I just put off the inevitable in 2005 as I should have gone BR, but the whole idea scared the sh** out of me, and these people told me I did not need to, I could pay it over 5 years at a much lesser rate than what I owed.

On the lady who told you about overtime and IVA I am not sure she is right as I was asked if I did overtime I said no as I did not, and any pay increases had to be notified to them as well.

I can only tell you that as much as I am still worried sick about it all, I know that I should have done this in 2005. However being in the IVA has taught me to budget, and I will never ever have another credit card, loan or whatever. I was in debt due to a partner leaving me with it all, and me stupidly having it all in my name, and in my so stupid honest brain I thought I had to pay it somehow. It probably contributed to my illness, so again think about things like your health, and the life you and your daughter have and just pick what is best for the both of you, not what anyone else thinks.

I hope this helps a bit Olivia, and I hope we will be here for each other over the coming months, it is good to have somewhere to release feelings and worries on, and this site is totally fantastic the people on here are wonderful.

betterlatethannever

Great post Rylynn (clap hands smilie) and very reassuring

oliviarosejackson

Oh my gosh, thank you so much for taking the time to post that Rylynn, it was so helpful. Can second BLTN's post Great post, it really was.

My IVA company is Blair Endersby. I shall ring them on monday and tell them what I have been considering doing and see if they have any advice for me regarding the BR. I shall also ring NDL to see what they advise too.... The lady who I spoke to from NDL said that when entering into an IVA said that when they work out how much you can afford to pay each month, overtime should not be taken into account when doing this. Once a yr when they review your I&E anyovertime you have done over the yr, they calculate and want you to pay half of the overtime you have been paid. But my IVA company did not do this, they took the overtime as my normal wage, so I was paying way too much - as my overtime isnt always going to be there. But a few weeks ago they kindly sent me a letter saying that they wanted over £150 off me for overtime i had been paid!!!! Which i got very angry about after i was told that overtime should not be taken into account when working out my figures. I do hope that all made sense.....

I the same as you wished I had gone BR last yr, but as you say you try to do everything else but...... I was scared about the stigma attached to it. And also I didnt realise that an IVA is virtually the same as BR.

So it could take me a while before I go BR??? I am struggling to give my daughter a good life with paying out all of this money. I want to reduce my hrs at work so that i can spend more time with her... Not sure the IVA company will care about that!!

There are alot of wonderful helpful people on this board and you are one of them Rylynn, thank you so much for that reply

tigerfeet2006

Olivia put the money you would have paid into your IVA to one side for a couple of months so you have the £495 ready and waiting to do it.

oliviarosejackson

Olivia put the money you would have paid into your IVA to one side for a couple of months so you have the £495 ready and waiting to do it.

Thanks tigerfeet2006, I was going to do that once I had decided that BR was the way to go. I hate all of this worrying....

tigerfeet2006

(((hugs)) Olivia.

Think what it would be like not to have to worry about those debts any more. To be able to spend your money on yourself and your daughter and know that it is your money to spend.