Cant get an IVA because im pregnant!

Wkdwill

Just wondering what everyone else knows about this, 2 companies now have said they wont do an IVA for me because I am pregnant, they say its because they know I will have more money coming in from child benefit and tax credits when the baby comes and if they did it now the IVA wouldn't be able to touch the extra benefit I will be getting 7 months down the line so instead they want to wait so they can get it all.

I find this very unfair, I dont want to set up a DMP for just 7 months then set up an IVA, just because they want to grab as much as they can.

I know its my debt and I caused it but it just seems very nasty, more so when they said they would put my shopping and clothing budget up by only £40 a month for both together when the baby comes.

RAS

Whu do you want to do an IVA - so many people end up bankrupt afterwards?

They really are only suitable if you are very certain of your i come for the next 5 years and if you are having children, that may not be the case.

Wkdwill

Thanks for replying.

We have been told that either DMP or IVA is our only option as we have too much disposable income for bankruptcy (or so we are told).

I have our max disposable income at £150 and they get it to £240 and we owe £24,500

I dont really want to do a DMP because it will take at least 12 years to pay everything off.

We wont be having anymore children after this one and like you say we cant guarantee our income as my husband has an illness that likes to make an appearance every year causing him time off work. We were looking into bankruptcy but having been told that it will most likely be refused and we have too much money spare (they also said we will have to pay it all into the bankruptcy for 3-5 years) we are begining to think we might have to go back to IVA (we had one 2 years ago but it was failed due to DH's illness and not being able to pay enough)

RAS

Who are you talking to as this sounds like rubbish.

Are you in England and Wales or Scotland?

gratefulforhelp_2

wkd, good luck, and please look after yourself as best you can in your pregnancy.

Wkdwill

RAS wrote: »

Who are you talking to as this sounds like rubbish.

Are you in England and Wales or Scotland?

One was Byrom & Keeley and I cant remember the other one, to be honest they are companies that have got in contact with me rather than me contacting them, they got my details from a site I used looking to sort out my debts so they probably are just looking for someone to make money out of by trying to get me to get an IVA with them rather than looking for the best option for me, but it still worried me what they said.

Yes I am in England.

Keeping_Positive

Try CCCS or CAB, these fee charging companies are usually more interested in what they can make. From what I have read if you have surplus income in bankruptcy you pay it to the OR monthly.

doelani

Wkdwill wrote: »

One was Byrom & Keeley and I cant remember the other one, to be honest they are companies that have got in contact with me rather than me contacting them, they got my details from a site I used looking to sort out my debts so they probably are just looking for someone to make money out of by trying to get me to get an IVA with them rather than looking for the best option for me, but it still worried me what they said.

Yes I am in England.

You need to speak to Payplan or CCCS. Do not go near anyone who contacts you, they can be good at making things look like they are doing you a favour when really they may not be.

You say you had an IVA before and it failed? What happened after that? Are these still the same creditors? I thought after a failed IVA you would have been made bankrupt.

Do you have any equity to protect ? You mentioned before in other posts about your husband having to take time off work sick a few times, hope I got that right read it about 3am this morning lol Can you be sure your income can sustain a IVA for 5 years?

I have our max disposable income at £150 and they get it to £240 and we owe £24,500

who said you had £240? one of these companies who contacted you? If you only really have £150 disposible and anyone works it out at £240 you are going to fail in that arrangement anyway.

You really need to contact one of the charity honey to get some proper advice.

Wkdwill

Keeping_Positive wrote: »

Try CCCS or CAB, these fee charging companies are usually more interested in what they can make. From what I have read if you have surplus income in bankruptcy you pay it to the OR monthly.

The CAB in my area is almost impossible to get in touch with and they dont take phone calls at my local office either, ive been trying to get through to CCCS since Friday morning and have requested a call back through the website but im still waiting.

I had heard that you have to pay so much of your disposable income into the bankruptcy for a max of 3 years but was told by the other companies that you had to pay it all in and that it was for 3-5 years,.

They must deffinately be after my money, what little I have eh, but when im told these things it makes me worry that its our only option but I suppose thats them doing there job right isnt it.

Ill keep on at CCCS.

Thanks

Wkdwill

doelani wrote: »

You need to speak to Payplan or CCCS. Do not go near anyone who contacts you, they can be good at making things look like they are doing you a favour when really they may not be.

You say you had an IVA before and it failed? What happened after that? Are these still the same creditors? I thought after a failed IVA you would have been made bankrupt.

Do you have any equity to protect ? You mentioned before in other posts about your husband having to take time off work sick a few times, hope I got that right read it about 3am this morning lol Can you be sure your income can sustain a IVA for 5 years?



who said you had £240? one of these companies who contacted you? If you only really have £150 disposible and anyone works it out at £240 you are going to fail in that arrangement anyway.

You really need to contact one of the charity honey to get some proper advice.

I did have an IVA 2 years ago, we had it for around 8 months, then my husband got ill and we couldn't make the payments they wanted so they failed our IVA, they said we hadn't paid enough to make any payments to our creditors and that it was all the fees that had been covered and that they wouldn't even consider making us bankrupt, they gave us £200 back and told us to make ourselves bankrupt.

Yes you read right my husband has sarcoidosis but the doctors are starting to say they aren't sure what it is anymore. Over the past 4 years he has gotten ill every year and had to spend between 8 and 16 weeks off work, in which time he only gets SSP. So we probably dont have the stability for an IVA.

Yes it was the company who said we have £240, when we went through the budget they said you cant have that, you cant have this and took things off, I do admit things will be changing over the next few months but not right this minute.

Thanks for your reply.

doelani

Wkdwill wrote: »

I do admit things will be changing over the next few months but not right this minute.

An IVA does not sound right for you. We both worked fulltime when we got our IVA then 6 months later I became ill and have not worked since. We were lucky as with hubbys overtime we just about manaaged to still cover payments so did not have to ask to reduce them. In the end though this was going to change again as my yougest childleft school adn my child benefit and CSA was stoping and we knew there was no way we could keep paying the IVA but after 3 years did not want to give up as we had paid about £24k into it by then. We eneded up remortgaging and doing a Full and Final and finished IVA early. We are now debt free but believ me those 3 years were hard work. YOu had 8 months of it before and need to be totally honest with yourself and ask " can I do this for 5 years ? " especially if hubby is off work sick again.

keep trying cccs and payplan