I am in need of help - Alot of please

Poorlee

Hi all,

My first post after lurking and reading before signing up.

I have got myself into a bit of a mess and after burying my head in the sand for 5 years i have decided to sort it all out and get my life back on track.

I apologise in advance for the lengthy post but i need to explain.

I left my previous partner in 2005 and with this i bought with me an iva for nigh on 20,000 pounds worth of debt. I paid this every month as i was earning decent money and set my payments correctly. At the time i was paying the CSA £160 per month for the one child based on my earnings which were £35000 PA.

Now this is the messy part. In 2009 i left my job and became a manic depressent and needed some medical help - this was caused by my dad passing away suddenly at a young age. No excuses but depression got me and i couldnt shake it.

Anyway, in 2012 i started my own company but couldnt earn due to the low income of the business.

Cut a long story short, I now own 33.3% of a new company which only just started trading and i may be able to take a tiny wage as it grows. I dont want to hide anymore and as such need to start sorting things by at least contacting debtors and explaining.

The csa are threatening me every week with prison and or a driving ban. they say i owe 5,000 pounds but i have no income so i feel sick when the door goes in case they come for me. I dont know what to do. They dont accept im earning nothing.

The iva hasnt been paid for 4 years as i havent earned a single penny.

Now i have some focus in life, I work every day 7 days a week for £190 a month in expenses as the business is young and will be nice as we hit 2 contracts that start in 2014 so i know its going to be ok so i want to sort it all out.

Starting with the csa and the iva i left under the rug

Where do i start and how do i get my "credit life" back?

Thanks all

Depth_Charge

Poorlee wrote: »

Hi all,

My first post after lurking and reading before signing up.

I have got myself into a bit of a mess and after burying my head in the sand for 5 years i have decided to sort it all out and get my life back on track.

I apologise in advance for the lengthy post but i need to explain.

I left my previous partner in 2005 and with this i bought with me an iva for nigh on 20,000 pounds worth of debt. I paid this every month as i was earning decent money and set my payments correctly. At the time i was paying the CSA £160 per month for the one child based on my earnings which were £35000 PA.

Now this is the messy part. In 2009 i left my job and became a manic depressent and needed some medical help - this was caused by my dad passing away suddenly at a young age. No excuses but depression got me and i couldnt shake it.

Anyway, in 2012 i started my own company but couldnt earn due to the low income of the business.

Cut a long story short, I now own 33.3% of a new company which only just started trading and i may be able to take a tiny wage as it grows. I dont want to hide anymore and as such need to start sorting things by at least contacting debtors and explaining.

The csa are threatening me every week with prison and or a driving ban. they say i owe 5,000 pounds but i have no income so i feel sick when the door goes in case they come for me. I dont know what to do. They dont accept im earning nothing.

The iva hasnt been paid for 4 years as i havent earned a single penny.

Now i have some focus in life, I work every day 7 days a week for £190 a month in expenses as the business is young and will be nice as we hit 2 contracts that start in 2014 so i know its going to be ok so i want to sort it all out.

Starting with the csa and the iva i left under the rug

Where do i start and how do i get my "credit life" back?

Thanks all

Hi

Welcome to the forum

Quite a bit to think about here and given the limited information provided so far difficult to give any realistic advice especially given that you have a share in a company.

Have you any proof of income / books / accounts etc

Have you been in touch with the IVA company or they with you?

From what you have put it appears that you paid into the IVA for around 4 years which should have ben a fair chunk if that is the case.

Was the IVA settled, is it still technically live or has it officially failed / been terminated?

Speaking with the CSA is paramount really as this is a priority debt and they do not go away - you may be able to negotiate depending how far this has gone, my experience in dealing with the CSA is that it can be a little 'testing' at times and you will need to provide them with any information they request.

This post should be taken as a guide only and given the potentially serious situation and the possible implications involved with the CSA then it would be best to get immediate professional advice as like I say the CSA wont go away and have formidable recovery powers at their disposable.

A full SOA affairs would help including details of any assets both personal and business wise.

In the meantime it might be worth checking out the Citizens Advice, National Debtline, Stepchange debt remedy and information resources tools along with the Business Debtline site for some pointers.

Citizens Advice

http://mymoney.nedcab.org.uk/moneyadvice/

National Debtline

http://www.nationaldebtline.co.uk/

Stepchange

http://www.stepchange.org/

Business Debtline

http://www.bdl.org.uk/

Like I say just a guide and best get immediate advice preferably from one of the genuine free agencies, having all details of your circumstances, debts & finances available.

Hope this helps some and best wishes

Poorlee

Thanks for the informed post i really appreciate it.

The CSA do have some powers even if they are misguided. I can prove i left my job and do have submitted books from the business which were done by a registered accountancy firm and they show a loss of £300 for year 1 with 0 wages removed from the account.

I also have no assets from a personal point of view and live with my partner who owns everything which is receipted.

The IVA was paid into and i have emailed them to discuss but i reckon im owing about £15K with the debts totalled and with no income till next year Im a little worried as to what i can do.

I already work 70 hour weeks for no wages as im trying to get the company a float and ive never claimed on anything like the JSA or "dole"

So i do a lot of work only to be chased daily by bailiffs etc. So i dont know what to do first. 70 hour weeks are killing me and especially as i earn zero lol

Depth_Charge

Poorlee wrote: »

Thanks for the informed post i really appreciate it.

The CSA do have some powers even if they are misguided. I can prove i left my job and do have submitted books from the business which were done by a registered accountancy firm and they show a loss of £300 for year 1 with 0 wages removed from the account.

I also have no assets from a personal point of view and live with my partner who owns everything which is receipted.

The IVA was paid into and i have emailed them to discuss but i reckon im owing about £15K with the debts totalled and with no income till next year Im a little worried as to what i can do.

I already work 70 hour weeks for no wages as im trying to get the company a float and ive never claimed on anything like the JSA or "dole"

So i do a lot of work only to be chased daily by bailiffs etc. So i dont know what to do first. 70 hour weeks are killing me and especially as i earn zero lol

Hi

You are welcome

You need to clarify the situation with your IVA company as to the IVA status.

Are they or have they looked into any potential PPI claims & issues as any mony raised via this route may be a positive and maybe (just maybe depending on circumstances) lead to a full & final settlement of the IVA.

Maybe there can be a full & final settlement of the IVA as it stands.

Like I have already said however it is very difficult to say without knowing the full circumstances including your prospects regarding your company etc.

The CSA should be realistic if you can show and prove that you have little or nothing income or asset wise but they do like people to keep in regular touch if you understand what I am saying.

The CSA have become more effective in recent years in my opinion and can be tough to negotiate with, going to the wire so to speak as they know that they have the powers and that CSA debts cannot be written off in B/R and other formal solutions

I have to be careful and perhaps restrained on here but debt can seem unfair at times and maybe some recovery agencies need to understand that when people are trying their best common sense makes sense at times.

On the other hand I was at court a few months ago on a debt related matter and the DJ mentioned that some peoples opinion of CSA debt was not necessarily the same as mine if you get the drift.

Anyway, as I have already said, best to get full advice from a regonised provider, bottom up on everything, maybe one of these could also negotiate with the CSA on your behalf. Still might not be easy though where the CSA are concerned.

Genuine best wishes