IVA or Bankruptcy?

IN_LIKE_EVERYONE_ELSE!

Stop paying everyone except your essentials, catch up on your rent arrears, change your phone number and ignore the people hassling you for money, you earn so little an IVA is not for you, your debt is very low for bankruptcy, if someone wants to petition for your bankruptcy let them pay. Just look after you and you alone.

Ames

Biffa, I can't get carers allowance as there is no carer, but I get the premium on my income support. I went on entitled to the other day and there is a problem with the IS, they're paying me about 70 a month less than they should, I've got my WRO onto it. But the way natwest are being, extra money to me just means extra money to them.

In like everyone else, I wish I could do that, but I just daren't, I'm already waking up several times a night with panic attacks, it'd be worse if I just ignored everyone and waited for bailiffs. Besides, if there's any way at all I can pay back what I owe I'd love to, but not at the expense of my health.

james32_uk

Give Payplan a ring mate. And make sure you allow money for a carer in your expenditure. Make sure Payplan understand that it's essential.

Chris_Kirk

Thanks for your advice have councilor phoning on tuesday from payplan

Ames

I've just seen CAB and got a totally different story from them. They say that being on income support I'll end up with a plan to pay back £1 a week to each of my creditors, they've referred me to the specialist debt team, but it'll be a couple of weeks before I see them and it'll take about 3 months to sort out, in the meantime to stop paying my debts and sort out a carer.

I have a couple of problems with this. It means that it'll take me 50 years to pay it off. That's a long time.

Also, I said that I want to work, but if I do that my income will go down, my expenses will go up and I'll be expected to pay more to my creditors. He told me not to worry about working because I'm financially better off not doing. That's not really the point though, spending the next 50 years sitting in a council flat on my own not seeing anyone for weeks on end isn't really that great a prospect.

I have the chance of going back to uni next year, again though I wont be able to afford the higher repayments even though I'll be worse off.

I don't think I can survive another three months of dealing with Buchanan Clarke and Wells and whatever DCA my other creditors send me to while it's being sorted. It's easy for someone to tell me just to say to them that I've been advised not to negotiate and put the phone down, but when I'm the one having to do that it's a different matter.

I guess I just want some advice for when I see the debt team, and other people might be able to offer a fresh perspective?

Thanks

Ames