Statement of Affairs - Any help appreciated.

LTP123

Hello everyone I am hoping someone could guide me?

My husband and I have failed our IVA's as we were unable to meet the payment every month.

We approached a BR assist firm who have been helpful and have informed us that to carry on assisting their fee will be £1200 for both of us. This will be the completion of all papers and attendence at the court with us.

I have read that some judges do not allow them to come into the court with you and that they may realise the papers have been completed by a third party and not accept them.

What we want to know really is, should we pay him? The IVA has wasted a lot of money for us already in high IP fees we don't want to get this wrong too.

What appeals to us rightly or wrongly, is that he may be able to help us avoid getting a high IPA.

Any help welcome, thanks.

I changed the title of my thread as I thought more people may look in. Thanks.

JCS1

They are very much a mixed bag, some are ok and some are awful.

But, if you have a copy of your IVA proposal that contains a lot of information that would go on your BR paperwork (and I have seen some SOA that are copied word for word from the IVA, making a very expensive copy job!).

It is a form that you can fill in yourself and save the money, if you get stuck you can pop a question on here and someone will be able to answer.

Regarding an IPA, as the company made you aware of the new guidelines?

Also, have you taken any advice from one of the free debt companies?

dojoman

Personally I would not pay anyone to help you, the process is reasonably straight forward, and you can gel all the help/advice you will need on here.

Penelope_Penguin

LTP123 wrote: »

We approached a BR assist firm who have been helpful and have informed us that to carry on assisting their fee will be £1200 for both of us. This will be the completion of all papers and attendence at the court with us.

Is this in addition to the BR deposit and court fee (£600 per person if you're not fee-exempt)?

Seems like a lot of money, if that's the case. Courts will ask if you've taken advice, but organisations such as CAB will give that for free Get in now, while you still can.

dancingfairy

A lot of people have done their own forms with help form on here or a local CAB. Also there are people on here that have gone through it and know what's what and those that work in the industry - some as debt adviser etc who I'm sure will be happy to help. Regarding whether you would get an IPA or not I'm sure the people on here will help you and let you know what the outcome is likely to be.
df

immoral_angeluk

Never pay someone to do something you can do yourself for free..
Plus, where are you going to get the £1200 + fees from?

LTP123

Hi everyone and thankyou for your responses. My husbands car is more than £2000 so we were going to sell that to pay him... Still would be a struggle though because the court fees would be on top of that.

Our IVA left us very short and I only worry about the SOA really as I don't want to leave anything off and we are short again.

JCS1

How much is the car worth and is there any finance (and what type) on it?

And post up your SOA and you'll get plenty of advice and suggestions.

LTP123

Thanks JCS1. No finance the car is worth, using Car Spotter, £3750. It is 10 yrs old this year.

I am about to change jobs as mine is making me ill. I will be on less pay, do you think the OR will frown on this? I've stayed in the job too long and it has been to my detriment however, I had to so that we could try and pay our debts back.

I will do my SOA and post. Thanks again for your help.

JCS1

Check out the price on parkers and be critical of the condition.

And the OR will have no issue with you changing job.

I do think there comes a time when a person decides that their health & family has to come first, and then BR is an option to let you start again.

LTP123

Okay, I haven't put my unsecured debts as we are currently tied up with the iva. We pay £480 combined and the debt is around £43000.

One nagging thing I have is that my husbands wages change month on month and are hard to work out, I think this is why we struggled with the IVA.

For now I have put his basic wages in and will inform you that it can be £100 - £120 more a month due to enhanced rates for weekends and evenings.



Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 930
Partners monthly income after tax....... 1032
Benefits................................ 130
Other income............................ 0
Total monthly income.................... 2092
Monthly Expense Details
Mortgage................................ 674
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 50
Gas..................................... 68
Oil..................................... 0
Water rates............................. 42
Telephone (land line)................... 13
Mobile phone............................ 40
TV Licence.............................. 12
Satellite/Cable TV...................... 12
Internet Services....................... 30
Groceries etc. ......................... 400
Clothing................................ 80
Petrol/diesel........................... 130
Road tax................................ 26
Car Insurance........................... 100
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 69
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 14
Buildings insurance..................... 10
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 80
Emergency fund.......................... 50
Total monthly expenses.................. 2101

Assets
Cash.................................... 0
House value (Gross)..................... 105000
Shares and bonds........................ 0
Car(s).................................. 4850
Other assets............................ 0
Total Assets............................ 109850

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 111500...(674)......7.9
Total secured & HP debts...... 111500....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 2,092
Expenses (including HP & secured debts). 2,101
Available for debt repayments........... -9
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -9
Personal Balance Sheet Summary
Total assets (things you own)........... 109,850
Total HP & Secured debt................. -111,500
Total Unsecured debt.................... -0
Net Assets.............................. -1,650