Loans Whilst in IVA

Years_of_debt

And you won’t go to prison over it so don’t worry about that. If that’s what you’re worrying about

hadenoughnow

Thanks for the constructive replies. I was more interested in the consequences of all this. I’m going to ring a professional debt advice line tomorrow but thought I’d see what people on here thought first

Years_of_debt

Best idea.

sourcrates

hadenoughnow wrote: »

Thanks for the constructive replies. I was more interested in the consequences of all this. I’m going to ring a professional debt advice line tomorrow but thought I’d see what people on here thought first

Worst they can do is fail the IVA, however, it may not come to that, or even bankruptcy.


There is the possibility they may allow you to add the debts to the IVA, it is a long shot given the circumstances, but if the money was for essential medical procedures, then they may allow it, it will be for your creditors to decide if this can happen or not.


I wouldn't mention the gambling if i was you, more likely to be approved if it was for medical reasons.

System

sourcrates wrote: »

There is the possibility they may allow you to add the debts to the IVA, it is a long shot given the circumstances, but if the money was for essential medical procedures, then they may allow it,

It would be nigh on impossible to get that past them when the OP lives in a country with the NHS.

Other than what has been mentioned if you do get declared bankrupt the OR may decide to not discharge you for 2 years or more instead of 6-12 months due to the timing of the loan and the fact you knew you couldn't.

sourcrates

Tarambor wrote: »

It would be nigh on impossible to get that past them when the OP lives in a country with the NHS.

Other than what has been mentioned if you do get declared bankrupt the OR may decide to not discharge you for 2 years or more instead of 6-12 months due to the timing of the loan and the fact you knew you couldn't.

I did say it was a long shot, and would depend on exactly what surgery the OP had, if there was a long waiting list for NHS treatment, maybe something not available on the NHS, if the OP`s condition would be made significantly worse by having to wait, the more information the OP can provide his creditors the better chance there is the IVA will not be failed, as that is in no ones interest.

hadenoughnow

The operation was for weight loss to help with my blood pressure and my depression brought on by being overweight. Minimum 2 year waiting list on NHS, that’s if you ever get the funding for it. I’m just 6 weeks my blood pressure has dropped to normal and I feel better in myself, so now i have a better life expectancy to spend with my kids, if that means bankruptcy and a 6yr BRU then bring it on. I’m not saying what I did was right but I was at the end of my tether.

Years_of_debt

I’d like to know the outcome. Keep us posted with any updates as this could help people in your situation in the future!

hadenoughnow

Years_of_debt wrote: »

I’d like to know the outcome. Keep us posted with any updates as this could help people in your situation in the future!

I will do my best

TheGardener

Tarambor wrote: »

...OR may decide to not discharge you for 2 years or more instead of 6-12 months ….

Bit of a nit pick - sorry but it is only ever a minimum 12 months now - early discharge was done away with a few years ago.