more advice needed please

larz7500

Hi everyone I am trying to get my BR fees together but I am still really worried about a couple of things,

1). I have a car that is on HP with less than a year left to pay. I think I owe just over a £1000 and the car is worth around £2000. I am a home carer so my car is essential to my job, if I lose my car to this I lose my job. Will I be allowed to keep it do you think?

2). I have only had one debt collector letter so far from a company acting for vodafone - this letter was a basic one stating if I pay it now I will be reconnected. The letter isnt a threatening one as such yet, how long do you think I have before this gets worse with Vodafone and so you think a debt collector will turn up on my doorstep.

3). I stopped paying my IVA nearly 4 months ago and have heard nothing at all from the compnay who was dealing with it, What shall I do about this (if I contact them will this then start the process again maybe earlier) shall I just wait for them, obviously the longer I dont hear from them the longer I have to save up.

Any advice would be so grateful as I am pulling my hair out.

Thanks

alastairq

Hi...reference #1......

With an HP agreement, the OR follows the guidelines outlined here.

https://forums.moneysavingexpert.com/discussion/1056083

Since you don't actually 'own' the car.....much will depend if the OR identifies any equity in it, and to do so will deal with the HP company.

If the car is claimed by the OR, then the OR may allow you up to £1000 to purchase a replacement....[since you seem to have a case for a car to be exempted as an asset].

In practice, the OR may decide to not pursue the matter, in which case, it is up to the HP company as to whether they wish to continue the agreement with you or not.

Again, in practice, you may find they are happy to do so.

#2?

that may happen, it may not..either way, it is nothing to worry about, given your final intentions....just don't mention BR, as it makes them even more anxious and pestilent. [Don't forget, doorstep debt collectors have no more powers than double glazing salespeople]

Whilst getting your act together prior to BR, these things are simply an em!!!!!!ence to you, 'tis all.

I believe the IVA company will have to 'show' that it has 'failed' before BR can be looked at......however, staying quiet for now may be a good thing for you.....perhaps others can argue to the contrary...please do so.

Why are you pulling your hair out? Relax, you have already decided the path you will take.

larz7500

Thanks for your reply I just want it to be over with now, I am just thinking the worst all the time thats all that someone is going to show up at my house and demand money or goods to the value and just plain scared to be honest. I hate juggling my money and worry where my next bit of money is coming from and trying to save up the fees is a nightmare but just realised that I have paid my council tax up to date now so wont owe anything now on that till april so that will save me a bit there too.

alastairq

Hi...if you haven't already, open two Co-op Cashminder accounts...[or Barclays]

use one to receive all incomes, the other for all fixed essential outgoings....DD's, CT, leccy, phone, water, etc.

Then, when income arrives, transfer [if with Co-op, do it online]....only that amount which will meet the bills [ie part or whole of amount to pay each month] ...leaving the rest to spend as and when necessary [food, petrol, or whatever.]....from the income[ing] account...don't touch the second [outgoing] account at all.

That way, you needn't worry about spending money you think you shouldn't.

larz7500

Hi I have a basic barclays account now do you think I should open another one then - should I open one with barclays again or one with co-op and will these get frozen once I go bankrupt anyway. How will I get my wages out if it gets frozen and pay my bills etc

luvchocolate

Hi basic bank acc do not usually get frozen I like the co op as we get internet banking which is brilliant the acc works really well does everything I need it to.

larz7500

Ok I will open one of them can this be done online or do I need to go into a branch as I dont have one near me, I need to have to online banking facility which I believe gets frozen with a barclays account once done so that will be no good for me

luvchocolate

Sorry do not know the answer I opened mine in Branch, their customer service telephone banking service is great,they were very helpful to me, sorry....someone else will have the answer I'm sure

micric

Hi, I am new to this but believe that you need to get a certificate of termination for the IVA before you can apply for bankruptsy.I had my bankruptsy petition accepted 18/1/2013.My IVA failed in december 2011 after 3 months of missed payments that I could no longer afford.A meeting was called with my creditors in june 2012.after this meeting I was sent my certificate of termination stating that my IVA had failed,and my creditors were free to pursue my debts again.So it took 9 months from me stopping payments until I got my certificate,I used this time to save my fees.As far as I'm aware I had to have this certificate as part of my petition ,I am very new to this but this helps.
I did not contact my insolvency practitioner at any time as I too thought it would make things happen faster and I needed time to save my fees

Vodafone

larz7500 wrote: »

Hi everyone I am trying to get my BR fees together but I am still really worried about a couple of things,

2). I have only had one debt collector letter so far from a company acting for vodafone - this letter was a basic one stating if I pay it now I will be reconnected. The letter isnt a threatening one as such yet, how long do you think I have before this gets worse with Vodafone and so you think a debt collector will turn up on my doorstep.

Any advice would be so grateful as I am pulling my hair out.

Thanks

Hi larz7500,

I can appreciate the concerns you've got here.

If you'd like me to take a closer look at matters for you you're welcome to email me with your details via the link in our profile here?

All you need to do is copy and paste the link into your web browser and it will take you to the Contact us form on our website.

To ensure that it reaches me could you also quote the code WRT135 - MSE in the subject line and once our automated reply arrives update the thread with your email reference number and I'll get back to you as soon as possible?

Thanks,

Lee

Web Relations Team

Vodafone UK