I give up

mark2004uk

I really do give up, I have been in an IVA with blair Endersbay for 2 and a bit year and I am still no better off, I don't know where my cash goes each month I feel im holding a wallet full of holes and my cash is just falling out. By the time I get to the 6th of each month I have run out of cash. Shall I go for bankruptcy ? where the hell do I start, do I stop payments to IVA till I catch up ? I don't like talking to folk on the phone, im getting so depressed about it all. :money:

searching_me

please dont give up maybe post a SOA maybe we could help x

GeorgeUK

Is the IVA for 5 years? If so, you're half way there.

Have you posted up a SOA?
There might be some areas you can make savings in.

Did you start the IVA to protect your house instead of going down the bankruptcy path?

Will you still be liable for any payments once the IVA is completed?

mark2004uk

I live in a rented home, what is a SOA ?

I really don't spend cash on anything, I don't drink, smoke. Once a payment bounces from back and you get a charge thats where it snowballs. I hate Blair Endersby I don't even talk to them, I want to end IVA and get back to normal, my IVA payment is £200 per mont they told me that was minimum but I have seen people on here paying 150 and 175, are they taking the !!!! or what ?

GeorgeUK

The little i have read online says a minimum of £200 per month. Not had a look at the legislation, but it might be worth asking on the IVA board. Not sure what happens if you break an IVA as it is a formal agreement made through the county courts.

The nationaldebtline have more details too - might be worth giving them a call to see what your options are.
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=26_individual_voluntary_arrangements

Have you reclaimed your bank charges? It's unlawful for them to make a profit on any penalty charges. Last i heard, the banks had lost the test case, lost the appeal and were planning on going to the house of lords.

Edit: A statement of affairs (SOA) is a breakdown of your income, expenditure and debts. This calculator is very handy for crunching the numbers.
http://www.makesenseofcards.com/soacalc.html

Lensman_2

You cannot apply for a bankruptcy unless your IVA has failed, usually this takes 2 missed payments. The court will require some degree of proof of this that varies a shed load from court to court. It appears that some courts will take your word while others need to see the failure certificate.

Getting a failure certificate can take months (10?).

You should have a read on the bankruptcy board. In fact, I'm in a clicky making mood, so here is a search for you.
http://forums.moneysavingexpert.com/search.html?searchid=56552591

Please note that bankruptcy is a final resort and nobody should take it lightly.