IVA or Bankruptcy

debt_doctor

Hmm...The cab said "you are intelligent enough to deal with your own problems, and that 'they' were here to help people who dont understand" - What a dreadful thing to say ! I would remind your local cab that the service is open to everyone, are they saying our clients are all dim ?

you need to ask to see someone in specialist money advice or a financial inclusion fund worker ( fif worker).

Hope it goes well,

let us know please.

DD.

Richard_S

debt_doctor wrote: »

Hi Battleweary, just chill a little bit so you can give a couple of important answers, how important in the big picture is your house, and bankruptcy will result in you not being an accountant.

Are you after a fresh start at all costs ???

Please post

Best wishes,

DD.

Hi debt doctor,

Not strictly true. You can't be a member of the ICAEW or ACCA so you can't work in public practice but the majority of accountants work in business, commerce or the public sector and no such restrictions exist there.

It's up to the employer to decide whether the person's bankruptcy will adversely affect their ability to do the job. Many people working as accountants are not members of any professional bodies and are classed as being "qualified by experience".

Richard

debt_doctor

Quite right Richard, and I can see that my post may have been misleading. I was reffering to Battle weary's own enquiries with the place where she works, she seems certain that she could not work for that paticular employer any longer.

Slapped wrist accepted !!

Best wishes

DD

Battle_weary

Hi guys

Had a lovely week-end with my family. Just chilled out and went for a long walk Saturday with husband, daughter and dog. Son absent as usual - playing football again!!!

My home and job mean everything to me. I would not know where to begin finding accomodation - especially with 2 cats and an enormous dog!! We have lived in this house for over 16 years. Not only that, the challenge to make sure my mortgage stays up to date has become an obsession now!! As far as I am concerned my life would be in ruins if I couldn't stay here. My job keeps me sane in the week, and I love the people I work, with but I could live without my job.

When we originally approached CAB in February they refused to take us on because the person dealing with debt-management was overloaded with cases that appeared more needy than ours, so they had to decline our case after the initial interview on the basis that they could not do any more than we were already doing ourselves. However, we have an appointment again tomorrow - hopefully with a specialist councellor this time.

The RAC information is very useful. I may well look at it tomorrow after CAB appointment depending on the advice we are given.

The debt collection company working for Black Horse is pressing to remove the car. We will probably let them collect it tomorrow. This will upset the other creditors who are expecting a pro-rata share of the proceeds of the sale of the car. But I am sick of the calls and letters now. Plus the fact that the car has just sat outside our house since March unused and not able to be sold because of the HPI flag that B.H. put on it. It costs £50 per month alone on the insurance - without the tax, and continues to devalue every day it is sitting there. At least once they have sold it at auction we will have a reduced balance to pay.

rog2

Battle_weary wrote: »

The debt collection company working for Black Horse is pressing to remove the car. We will probably let them collect it tomorrow. This will upset the other creditors who are expecting a pro-rata share of the proceeds of the sale of the car. But I am sick of the calls and letters now. Plus the fact that the car has just sat outside our house since March unused and not able to be sold because of the HPI flag that B.H. put on it. It costs £50 per month alone on the insurance - without the tax, and continues to devalue every day it is sitting there. At least once they have sold it at auction we will have a reduced balance to pay.

Be VERY careful about allowing a collection company to collect the car, B-W. As you have confirmed in one of your earlier posts, the finance that you received from Black Horse, was in the form of a personal loan and not HP specifically related to the car. This means that Black Horse are acting dishonestly in trying to 'repo' the car (is the collection company called Nationwide Collection Services Ltd., by any chance - if so you will find that they are listed, at Companies House, as a 'dormant company' sharing the same address as the Customer Service Department of Black Horse - I leave you to draw your own conclusions).
If you allow them to 'repossess' the car, you could be accused by the OR as having given Black Horse 'preferential treatment'.
The mere fact that the finance was in the form of an unsecured personal loan, means that Black Horse have NO POWER to remove ANY asset from you unless they first obtain a County Court Judgement against you, which, if you default, then the COURT has the power to instruct Bailiffs to sieze goods.
BLACK HORSE DO NOT HAVE THIS (OR ANY OTHER) POWER.

Battle_weary

Hi everyone

Had our meeting with CAB today - they advise IVA - so we are going to go through that route.

I presume I can no longer post on this part of the web site and wish you all well. I may be back if the IVA fails!!!!

You have all been so very supportive and it is good to know that there is somewhere to go and talk.

On another note .... does anyone have any taxation knowlege. Because my husbald was sole director of our company we have been told that he does not qualify for the government redundancy package. If he is classed as self-employed is he allowed to claim as expenses for last year the several Directors guarantees that are in place against his earnings for last year?

backontheup

There is no reason why you cannot post here any longer! We like to hear all manner of BR and IVA success stories.

Good luck with it all :-)

Miss_MoneyPenny_4

Have you ever thought about a Full & Final IVA. You could always re-mortgage, drop out the equity and an Insolvency Priactioner can negotiate perhaps a 40p in the £ repayament figure for you.
This will save your worries about your job and still allow you all your income to go towards your family............rather than into an IVA!

tigerfeet2006

Miss_MoneyPenny wrote: »

Have you ever thought about a Full & Final IVA. You could always re-mortgage, drop out the equity and an Insolvency Priactioner can negotiate perhaps a 40p in the £ repayament figure for you.
This will save your worries about your job and still allow you all your income to go towards your family............rather than into an IVA!

Miss MP if you read the op BW has said they cannot re-mortgage because of early redemption charges from a earlier re-mortgage. Also if you can avoid it is better not to make un-secured debt into secured debt.

Miss_MoneyPenny_4

Hi Tigerfeet,

I had that advice from Debt Free Direct when I asked them if I could settle.
I'm guessing establishments like this are in it for one thing - to pay line their own pockets!