Im thinking of failing my IVA and going bankrupt!!

moodswing_2

Hi Fairy

I'm going to call CCCS tonight. I looked at the sticky which was very helpful, I'd never even thought of a spending diary, I'm going to sit down tonight and put one together, hopefully I wont forget anything.

Thanks a lot

moodswing_2

Good morning all, thanks for your help so far. I've just called CCCS and they said that as my IVA is a legally binding agreement with an outside company they can't get involved. They can only get involved if I cancel the IVA.

They advised me to contact IDS and tell them that I'm struggling to keep up their requested payments

madmoney_2

i think u shud cancel it, havent u already asked them to lower ur payments? x

Dr_Hook

Don't be hasty - cancel it now and the last 2 years will have been for nought: you'll be back at square one with (probably) nothing having been paid off your debts (assuming the first dividend hasn't yet been paid).

Give IDS a chance - like I said earlier, explain the change in circumstances and request that they present a revised proposal to creditors asap.

tallyhoh

Don't think I am being harsh but are you really struggling with low income or is it they you are not budgeting properly?

One of the reasons I ask this is because you have mentioned doing a spending dairy, so it may mean you have not scrutinised your spending.

If you have such a low income that you cannot afford the IVA, try calling the company and asking the options? saying that you simply cannot pay. Would it be in their interests if you cancelled or just didnt pay? would they profit by that?

Good Luck