Can anyone give some advice please?

keepyourchinup_3

I currently have debts of a loan and 2 credit cards and a store card amounting to 33000.00, i recently took advice from CCCS and read lots of info on the net.I decided to go for an iva and filled out the statement of affairs etc and then i had to wait for a phone call.When they rang the lady advised me to consider bankruptcy in view the iva may fail when my daughter becomes 18 in may .So she said have a think about it over the weekend, which i have and ive downloaded the forms to have a look through.The thing that worries me is they might take my car i have a corsa 2005 prob worth around 2000 and i need it to get to work.
It petrifies me the process can anyone tell me what to expect or in their experience im so scared):
Also how long does it take?
thanks in advance

FoggyBrain_2

Hi. Firstly I would have a word with another ( or more) IP's ---- if they think the IVA might fail then they should be working on figures based on what the situation will be when your daughter turns 18, and should base the Proposal on that foreseeable occurence. As an example, many people in IVA's has cars on HP, which they were allowed to keep ( modest cars are allowed -- even obligatory if you need them for work) anyway, the proposals were couched in the terms, £XX payable until the HP ends, then the money that was being paid on HP is added to the payment to creditors. Not the same situation, I know, but an example of a foreseeable occurence being catered for.

Sorry for babbling on -- I hope that made some sort of sense !

Best of luck.

tigerfeet2006

If your car is around £2k and it is essential for getting to work ie: there are no bus's or train's that are convenient then your car should be fine.