Have I failed my IVA? What do i do next?

fiveyearplan

No not the same in BR. - I'm not sure what having a young child has to do with it??? You phone should be no more than £60 including mobile so if you are paying for the phone and the sky package comes free just don't mention that bit. Do you need internet for work? Maybe you could downgrade the package.

fiveyearplan

SOSTUPID wrote: »

I (went into the fence post scratched the side of the car!!!).

........Ooops!

SOSTUPID

I have just been reading through my court agreement and it states that "failure to pay unsecured non preferential creditors a minimum dividend of 29p in the pound shall be deemed as a default of the arrangement." Does this mean that Debt Free Diredt could actually arrange for me to reduce my payments? or do I not have enough "spare" money to meet this with my amended amount of income? if I could why are DFD taking so long to sort this out? This whole thing is just so complicated!

deedee_3

Because DFD are a load of idiots and having read your details I would say that they wrongly advised you to go for an IVA and you probably should have gone bankrupt back then. As it is in this short time you have have given them some lovely money to line their coffers and your creditors will get zilch.

Please ring one of the debt charities listed in the Bankruptcy Help sticky at the top of the board and get some advice on the pro's and con's of bankruptcy. You need to do this as the judge may delay your petition until you have taken professional advice. Also have a good read of that thread and ask any questions about the process as you need. We will help and support you through as much as we can.

DD has given an excellent review of how the OR will look at your SOA in bankruptcy. I would just put the entertainment package under phone, the OR may cut to around £40 or £50 but you can still afford to pay it so it won't matter.

Don't forget to ask about anything that you are unsure of, the guys on here are pretty good at answering most things.

SOSTUPID

Please could you tell me what the OR is? I have seen it mentioned a few times, apparently you have an interview after you have been made bankrupt, what is this for? Thanks for the advice its really helped as I don't know anyone who is going through or been through this.

So_Sad_Angel

OR is the Official Receiver...the appointed official that will investigate/manage your bankruptcy.

Firstly you must call one (or all) of the debt charities ( do not call DFD...they are in it for the money...remember that!!!) . Get advice & then you will have an informed view of your options.

Hope that helps...Angiexx

SOSTUPID

do you think dfd have been negligent and should i sue them? i am very angry the way they have behaved and it seems im not the only one who have been enticed by them and then totally mismanaged.