Bankruptcy: is it right for our situation?

tigerfeet2006

Miss_MoneyPenny wrote: »

Hi Guys,

Was told that when I went into an IVA - oh joy, another piece of duff info from Debt Free Direct.
Not sure what to believe anymore - good job there is good, honest advice out here.

Don't worry sweetie, we spoke to DFD originally and it's amazing the difference the info we got from them and the info we got from here made. Just keep reading the threads here and on the DFW board and it's amazing how quickly you will pick things up and don't be afraid to post either. I assume you have an IVA with DFD.

Richard darling have a butchers at my siggy to

Richard_S

tigerfeet2006 wrote: »

Don't worry sweetie, we spoke to DFD originally and it's amazing the difference the info we got from them and the info we got from here made. Just keep reading the threads here and on the DFW board and it's amazing how quickly you will pick things up and don't be afraid to post either. I assume you have an IVA with DFD.

Richard darling have a butchers at my siggy to

Oh my Dearest Tigger,:o

I hadn't noticed you'd updated your signature; I have it firmly fixed in my mind now:A . I'll have to update mine too, but there's not much chance of getting around to it within the next year.:D

Rich

debt_doctor

Hi miss money penny, im sorry you became yet another victim of profit fuelled IVA companies.

Keep postin on here, you ll get genuine advice on this forum.

Best wishes

DD

TS_777

Hi guys
Just wanted to tell you what happened with us. Finally my OH had a meeting with debt advisor at CAB, and a week later he was in court and declared a BR. That was about a week ago. My OH is deliriously happy that no bank disturbs him anymore. He informed all his creditors in writing that he is a BR, and it looked like he was finding immense pleasure in this! Although I don't find it too amusing as he owes money to me as well. So it all puts great strain on our relationship. I understand that money is not everything but this is such a hard time for me. I hope we get through this, but sometimes I wish I was not born as I feel so miserable.

fermi

Hi TS 777

Nice to hear from you.

I'm pleased for your husband, in so much that he is on the road to getting things sorted.

Although, in his excitement and relief it does sound as if he has forgotten or underestimated the impact on you.

I think you should remind him that although he isn't officially allowed to pay you back any money, that he should be very generous and considerate to you financially (and otherwise right now) after he is discharged and free to do so.

I hope things improve with time.

Broken_hearted

Did the court put you down as a creditor in the BR. Just read fermis post which is fair enough.

TS_777

Yes, he put me as one of his creditors on his bankruptcy form. But I don't think I will see any money as he is still out of work receiving only JCA. I am wondering will he have to pay any payments to the creditors if he is on JCA? So far no payment was requested from him.

fermi

TS_777 wrote: »

Yes, he put me as one of his creditors on his bankruptcy form. But I don't think I will see any money as he is still out of work receiving only JCA. I am wondering will he have to pay any payments to the creditors if he is on JCA? So far no payment was requested from him.

If he is out of work then he will not be expected to make any payments under an Income Payments Agreement.

If his circumstances change before discharge then things would be reviewed depending upon his level of income and essential expenditure.