Advice Needed Please

Queenb_2

I did out this on the BR board but no one replied. I have been in an IVA with Payplan since 2006 and pay £210 a month for a debt of £33,000. Anyway I was in a good job which I lost and now I am in a much lower paid job. I am finding it hard to live and I have been diagnosed as bipolar.

Heres where I am a ***k as I did not disclose to the IVA that I had a credit card with Barclaycard and now the debt with them has run up to £7,000 and I am paying off as much as I can but its not shifting. I am eating bread to try and save money but the amount stays the same or is going higher. I have cancelled the payment protection on the card.

Basically I have the IVA and neglected to tell them of the credit card i still have which i owe £7000 to. I have now told Payplan of this credit card and they have said they will be sending me a failure certificate - though they said this on the 22nd December and I have not received anything nor heard from them.

Now I cannot afford the minimum repayment on this credit card which is approx £150 and I dont know whether to send the credit card a token payment with a letter - bearing in mind they have no idea of the IVA in the first place.

So BR or try for an IVA with another company and start again? I work in social housing and I am worried how a BR might affect my job if they found out but then they could ultimately wipe out the debt and its a clean state? If Payplan organise the BR would I need to go to court where actually I could appear in front of people who I also see via my work?

Following on from the original thread I havent heard anything from Playplan concerning the IVA failure certificate though I have now emailed and chased that up but not heard yet from them.

I am now getting phone messages on the hour from Barclaycard asking me to contact them regarding the outstanding amount - should I send a token payment even though it looks like BR ? I really dont know what to do.

Following on from the original thread I havent heard anything from Playplan concerning the IVA failure certificate though I have now emailed and chased that up.

I am now getting phone messages on the hour from Barclaycard asking me to contact them regarding the outstanding amount - should I send a token payment even though it looks like BR ?

trudij

hmmm.

I wouldnt send them any money (well, certainally only a token payment with a letter saying just that you are in difficulties and are taking advice ) - the chances are that you will have to declare bankruptsy now, I dont know for sure,but I doubt you will be allowed another IVA straight away??

There was another thread similar to this not so long ago - I'll try to find the link for you to have a look....

trudij

http://forums.moneysavingexpert.com/showthread.html?t=2028389

here you go.

Queenb_2

Thanks Trudij that other link was from me too.

I think I am worrying as I dont know where I am as havent heard from Payplan, If i knew that they are going towards BR then I would be scared but at least i would know.

I could write to Barclaycard and say I am facing difficulties and offer a token amount in postal orders and say please put all communication in writing - sorry just thinking aloud.

I havent been on my medication which i know doesnt help but I hate getting these phonecalls from Barclaycards machines asking me to call them immediatley

But thanks again for responding

trudij

lol - oops, so it was !!! (just goes to show how awake I am today !!!)

sounds like a plan with the writing to bc, but can you phone payplan tomorrow and ask them whats happening?? presumably they are still taking money from you for the iva ? if they are failing you, then they shouldnt get any more money. ???

Queenb_2

Well my officer at Payplan told me not to pay them for December but by then the payment had already gone through.

I work and its hard to speak to Payplan who are open mon - fri 9-5 as I dont want to speak to them at work as all my calls are recorded. I have emailed my officer so I am hoping she will reply on Monday. God knows what the next stage is as reading on here I have seen stories of people failing IVA's and then nothing happens as no one wants to pay for the B so it all hangs in limbo. I am terrified that the original people I owe money to come after me once they hear IVA has failed along with Barclaycards constant phone calls - its doing my head in and I have pulled phone line out.

AndrewClarke_2

Bite the bullet and take a sickie off work and get things sorted out, first of all

1 cancel your payments to pp before the next payment goes through if you havent already
2 get in touch with bc to let them know your having difficulitites with paying them and offer a token payment, This should stop the harrassment at least temporaily and show willingness to pay off debt
3 contact citizens advice or national debtline for advice about the situation / bankruptcy
4 take your meds
5 is there anyone you can talk to, friends, family. partner? Its hard to talk about I know but your loved ones will want to give you support
6 look at the national debtline website theres a factsheet about bankruptcy. sorry site wont let me give you a link

You need to go to court for bankruptcy but it wont be in front of a jury. Most professions will not be effected unles you are dealing with finances or you are a company director. Youll get more advice about that in the links.

Queenb_2

Thank you AC - I didnt take the day off as I feel guilty as I have just started job and want to look keen and dont like letting people down.

I have written and sent off letter to BC and I have emailed National Debtline for advice. Oh and taken meds so hopefully will sleep but if I havent I always have temazepan..

Honestly I cant talk to family about this as I would hate this hanging oin them - its already affecting me and its not fair making them suffer for my stupidity. My parents are seniors and worry about £ enough so I wouldnt tell them to add to it.

But thanks again AC for your response - much appreciated.

AndrewClarke_2

Your welcome queenb, made me up to here your taking action already. Hope things work out and you feel less stressed soon. my parents are getting on a bit to so I appreciate you wouldnt want to add to the old peoples worries. Maybe other people in your life with less knackered tickers might be abel to give you a shoulder to cry on even if their short of cash problem shared and all that . Let us know how things go and go easy on the temazepan

emos4607

Hi QueenB,

I too work in social housing and am facing the same situation, i think i will end up going B/R in the next few weeks but i have the same situation that i face the judges on a weekly basis in a professional capacity so it's going to prove impossible. I am trying to find out if i can go appy for B/R in a nearby town?, still risky because all the local judges work alternative days at courts in local towns.

As far as having to tell your employer, i have double checked my contract and there is no mention of having to disclose it, so i think it will be ok but i do collect rent as part of my job and therefore i'm not sure if this puts any difficulties in my way in terms of keeping it a secret.

I am speaking to my advisor fro cccs tomorrow so hopefully will have some more answers then.

Choo_Choo_4

Queen B & Emos - you could try contact your Human Resources Dept (anonymously if you wish) to find out how Bankruptcy would affect your job (if at all) ...

Emos you have said that part of your job description involves you collecting rent so this may pose a problem - I guess you could offer to take on alternative duties if your employers felt that this would cause problems even though you know it wouldn't.

At the end of the day guys - bankruptcy is not the big bad wolf - it's specifically put in place for people in your position, who presumably through no fault of your own have found yourself in this impossible situation. It's a chance for a fresh start, to learn from previous mistakes ... but obviously it's a decision not to be taken lightly - think about it, seek advice (from the right people, do not pay for this...) and if it's for you then go for it.

QueenB - if Payplan are telling you not to make any more payments to them and that they're going to make you bankrupt then stop paying. If they don't follow through on this (and you have confirmed that it will not affect your employment) then you will have the bankruptcy fee in a couple of months (if you stop PP payment)

Human Resources will give you all the answers you require and should help in making the decision.

Good Luck!