Can i enter another iva ?

jonnygsxr

Hi, I have failed on my IVA and they have decided not to bankrupt me, instead they are telling my creditors, i have done a credit check online and only 4 of my creditors show up on it.
I went to the IVA in 2004 oweing £48000. and defaulted in 2006 after 1st child was born.
Its taken till Jan 2009 for 2 of my creditors to get hold of me,and just received letter friday from other 2 creditors total i owe now is £16000 for all of them.
Iv been paying £52.09 wk since jan 09 to 2 of the creditors, the other 2 are getting back to me monday with there payment demands. I dont have any more spare money for them..
Do you think i would be able to enter another IVA ( as long as payments arent over £50 wk ) ??
Otherwise the only way out seams to be bankrupt myself.

PLEASE ANY ADVICE WOULD BE GRATEFUL- Jonny..

spenderblender

Hi Johnny why has it taken them so long to get hold of you? I would personally see if you could enter into a dmp which would be better than an IVA.

jonnygsxr

what is a dmp ??
I had no feed back off them at all, while asking for lower payment and every time i phoned them they didnt seam to now me, not surprised they took so long to get hold of me.

anniecave

have you checked all the different credit reports? Do you know with the IVA what payments were going to whom and when?

Just thinking there may be other creditors lurking and it's wise to know what you're dealing with...

md009

Jonny a Debt Management Plan iallows you to repay your non-priority creditors and avoid the severity of IVA or bankruptcy. What you owe your creditors and what you can afford to pay are probably quite different. With a debt management plan, a debt counsellor will calculate your expenses and income before negotiating with creditors.

RAS

Please speak to one of the debt charities listed here http://www.moneysavingexpert.com/loans/debt-help-plan#help

RAS

md009 wrote: »

Jonny a Debt Management Plan iallows you to repay your non-priority creditors and avoid the severity of IVA or bankruptcy. What you owe your creditors and what you can afford to pay are probably quite different. With a debt management plan, a debt counsellor will calculate your expenses and income before negotiating with creditors.

Oh dear it appears the md009 and hiddy07 are colleagues using forbidden links in their sigs.