Head in the sand...non payment of IVA

WillowsShade

We took out an IVA with Grant Thornton back in 2003 made a couple of payments and then got into trouble, partner lost his job etc....... haven't heard anything since I know it is really bad to have not paid anything since but to be honest things have gone from bad to worse over the following years. Needless to say we can't get any kind of credit but I am totally confused as to what happens, does this now stay with us for the rest of our lives??? It would have been easier if they filed for bankruptsy but we have not heard from anyone since, I'm just so confused we are at a point now where we are going to loose everything (including the house we are in which is rented)I'm just so fed up with struggling, I myself have been in and out of work, my last position I was laid of due to cut backs, please don't think bad of us. :embarasse

WS

Useless_with_wonga

Well try not to panic nor lose hope. There will be a way of addressing this you have made a start by acknowledging there is a problem.
First thing first. Any debt that you have not acknowledged or paid/part paid etc for 6 years becomes statute barred. How far are you off the 6 year anniversary? (assuming that you have not acknowledged or paid) You could continue to lay low but unfortunatley it's no guarantee that you won't be found and pursued for the debt.
Alternatively you need to get hold of Grant Thornton and find out exactly what is or has happened with your IVA.
In short and on face value it sounds like you need a fresh start and that will only be possible if you meet your demon's head on and it will require you to tackle the isues in a very proactive manner.
Without knowing the full in's and out's of your situation it's difficult to be specific with any advise however it seems like the IVA is a dead duck. You have not paid for approximatly 5 years so i would have thought that Grant Thornton may have petitioned for your bankruptcy already they could have done this without your participation or knowledge especially if you dropped off the radar (you know, ignored/didn't read letters from them etc etc)
You could try looking on the Insolvency website and see if you are listed as a Bankrupt or whether it still shows IVA against your name.
It may be that you have not been made bankrupt in which case it's probably the most logical next move for you to take. From the tone of your post it sounds like things are bad and you probably have little hope of raising the funds to self petition for BR but you may be entitled to help with this again have a look at the Insolvency website for further info. The best outcome would be for one of your creditors to petition you but most are reluctant to do so as it cost's them.
As for your housing situation again it's difficult without knowing your circumstances. Are there any kid's involved? If so your local authority are more likely to act quickly to rehouse you. They may still rehouse you without kids but you won't be such a high priority.
Contact your local authority ASAP and find out what your options are and what they can or can not do for you.
I hope you get this sorted but as i said you really need to deal with it. I know it won't be easy these things never are and it won't be straight forward because officaldom never is however take a deep breath and engage yourself
into resolving this once and for all.