thinking of bankruptcy

stuckinrot

hi people i am very new on here so please forgive me for any mistakes.
I have been in IVA FOR 12. however things have changed a lot i simply can't afford to keep up payment..
to be honest i think i was miss sold the iva, as most of my income is base on my benefits and dla.
i would like some advice.
if i was to go bankrupt how do i list the people i owe money i.e. family members ect. i have no other option.
my parents who i owe 10k to said if i go bankrupt they will not get a penny from me and they will increase my rent or i can't live there.
i simply am stuck in such a hole i don't see no other way out apart from considering bankruptcy but i am also scared my family will stop talking to and maybe homeless.
i am on long term sick and receive DLA AND Incapacity benefits.
i also still receive a small income from work.
my iva was 28k however i have been paying it 12 months.
i know it says you can have gym membership act if you going BR but its my rehab for my health, will they take all that into consideration?
thank you for all your help

sniggings

Hi mate.

Part of BR is having gotten advice for a helpline such as CAB or CCCS so you need to do that, it will also help you feel better.

AS for your family, yes you can put those debts down and if the choose to be nasty to you tha that is saying more about them than you, maybe looking or somewhere else to live would be an option.

If you mainly get benefits then I very much doubt you will have to pay anything back so you might be able to get your own place.

Remember too that once all your debts are clear you should havemore money left over, not allowed but out of that spare money you could give your family a little extra to make up for the loans of them but only if you waned to as it's not allowed for you to pay one person and not the other debts but it's an option if you still want to live at home.

As you are on benefits all your money should still be your own so the gym wil not be a problem, if by a small chance you have a payment to make in the BR then the gym should still be allowed if you need it for your health so no problem there.

Good luck.

stuckinrot

i did call national debt line they said it was my best option but i just forgot to ask.
only cause i was stressing cause the iva people said they can't help me.
thank you so much for replying

stuckinrot

sorry i did call another place for advice and said i need to be released from iva before they can help.
the iva people said if i go bankrupt they can help but there fee is 750.
everything is money lol

sniggings

stuckinrot wrote: »

i did call national debt line they said it was my option but i just forgot to ask.
only cause i was stressing cause the iva people said they can't help me.
thank you so much for replying

I too thought the help lines would either say yes BR is right for you or no it's not but they don't like to do that as it is a big step (best step I took:rotfl:) they like you to make the choice, with the info you posted on here it does seem the IVA was wrong for you and BR maybe the better choice, get posting on here loads and asking questions, also maybe giving another helpline a ring will make things a lot clear for you, I used CCCS, they didn't tell me to go BR but they dropped a big hint it would be the best option for me and they were right.

stuckinrot

same thing national debt line said.
he did tell me my DLA CAR will not be touched. they only think i do have is a tv and laptop not worth much i take it hospital when i have my treatment. i just want the stress to go away.
all this from a broken marriage lol

stuckinrot

do they take into consideration everything like health ect.
sometimes i have to get a taxi to hospital if i am not able to drive and can't get a lift. theres times i can't my clothes and have to give to dry cleaners but thats not always?

sniggings

stuckinrot wrote: »

do they take into consideration everything like health ect.
sometimes i have to get a taxi to hospital if i am not able to drive and can't get a lift. theres times i can't my clothes and have to give to dry cleaners but thats not always?

Mate if you are on beneifts then after BR all your money will be your own, no debts so if you choose to get a taxi that is up to you.

If you have some extra money from a job or some other money which it sounds like you don't, apart from a small amount you mention from a past employer, then you would have to make a payment each month for 3 years of any extra you have left after all living expenses ae paid out, and yes taxis is needed for hospitals would be allowed, they don't touch household stuff like TV etc only if you went out a bought stuff because you knew you were going BR then they would take a closer look but as a rule all that stuff is safe.

But once again it sounds very much like once you go BR you will have no payment to make so all your money would be your own :beer:

stuckinrot

the money i get from my employer is ppi for sickness i ant sure how long it will last for though been 5 years already.
thats how i survive however if that wast to stop i think i will get income support.
someone said i should wait for someone to take me to court so i won't have to pay the fee is that correct?
i will call iva again 2mrw and ask what i need to do now.

sniggings

missed the bit about your IVA people saying there is a fee, depending who they are if I would let them help.

Not sure if they are talking about the BR fee or a fee for them helping you?

Not sure of the fee cost now but when I went BR it was about £500 that was 3 years ago so a bit more now but you would maybe have to pay £300-£400 as some is paid because you are on benefits, you never know things might have really changed and it might be all free if on benefits?


You pay a fee for BR but as you are no benefits you get part of the fee paid and still need to pay the other bit, not sure of the amount you would be paying but maybe around half, remember too once you decide to go BR you stop paying the IVA and save that for the fees, but CAB or CCCS will help for free with the forms once you make the decision.

sniggings

stuckinrot wrote: »

the money i get from my employer is ppi for sickness i ant sure how long it will last for though been 5 years already.
thats how i survive however if that wast to stop i think i will get income support.
someone said i should wait for someone to take me to court so i won't have to pay the fee is that correct?
i will call iva again 2mrw and ask what i need to do now.

them taking you to court only happens rarely as it costs them thousands to do so most dont bother but they will still threaten you and send letters so not worth waiting as it would most likely never happen and just stress you out more, remember you will have the IVA money for the fees and as all you money sounds like it is benefits then I can say nearly 100% you will not have a payment to make, once BR you will be stress and bill free