I need some help with my debt please and some advice.

2 Posts

Since last year I have been in an iva but I stopped paying it in March this year because they told me I could still get credit but they lied.
Then they told me not to say that I had mental health issues because I wouldn’t have got the iva so they are breaching their contract aren’t they ?
I thought iva was my only way out of my debts .
please could someone explain and help me out with this matter.
Then they told me not to say that I had mental health issues because I wouldn’t have got the iva so they are breaching their contract aren’t they ?
I thought iva was my only way out of my debts .
please could someone explain and help me out with this matter.
Kind regards
Rachel xx
Rachel xx
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Can you give a little more detail on who the IVA is with and who suggested it as the only solution suitable for you? what were the reasons that a dmp, for example, was dismissed as an option.
Was thinking about bankruptcy but I do Park Christmas savings and I do avon in my spare time so couldn’t go bankrupt because they are cash accounts. That’s what I was told anyway.
Who told you that?
Why was a DMP no good?
More details please
What I advise then is to sit back and see who writes.
You will find some creditors drop off the radar completely and some will have sold the account to debt buyers.
Keep a record of who writes and how much they say you owe. You probably won't find much if anything has been taken off as creditfix will have retained most of your payments for their fees.
Now normally I would say to contact stepchange because you would be suitable for a debt management plan or a DRO but I understand that you don't want to do that. There are other options so maybe post again when you think everyone has contacted you that is going to.
I think in your case the first thing to try is write-offs due to mental health. But as I say, collect the info first
From what you have posted its very clear you were unaware of what you were signing up to, unfortunately this happens a lot, where IVA`s are concerned, there is precious little in the way of regulation, so they are mis-sold on an industrial scale, as the seller (the IP) benefits from the fee`s they can claim for administering your account.
Again, I`m with fatbelly, wait and see who writes to you, then take his advice with regard to write off`s.
More than a third of IVA`s fail....fact.
Could A Debt Relief Order help you ?
Never pay a fee for a Debt Management Plan.
For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.