Please Can Anyone Help Me????

JUSTIN_DEBT_2

My Husband & i Have Set up An Iva each which we started paying in nov 2007, the pmts are crippling us, would it be possible to still consider bankruptcy? if we did go bankrupt would we lose our jobs? we are both civil servants. Any advice would be appreciated Please

betterlatethannever

Hi Justin, and welcome, yes you can go from an IVA to Bankruptcy but you will need to take some advice first (will post advice links at the bottom of this thread for you)
Its highly unlikely you will lose your jobs, check your contract of employment to see if BR is mentioned there.
Good luck and any more questions then just ask.


Professional, free and impartial advice on debt problems can be obtained from several charitable organisations. They never make a penny from the advice they give, which means it will be given with only your best interests at heart.
You can contact:
Your local CAB Office and ask to speak to a 'money advisor'.
The Consumer Credit Counselling Service (CCCS) - Tel: 0800 138 1111
National Debtline - Tel: 0808 808 4000
Payplan - Tel: 0800 917 7823.
or visit
http://www.cccs.co.uk/
http://www.nationaldebtline.co.uk/
http://www.citizensadvice.org.uk/index.htm

tight_jock

I suggest you get back in touch with your initial source of advice or use one of the agencies in my sig.

An IVA should be affordable if it has been realistically set up in the first place.

If your payments are crippling you then you MUST try and either renegotiate or look into other alternatives.

Are you absolutely sure that BR would cost you your jobs.
There are very few occupations that are affected these days. An anonymous call to HR to clarify this may be in order too.

JUSTIN_DEBT_2

My Husband Has Already Missed One Of His Pmts On Iva , I Have Kept Up To Date With Mine, We Have No Equity In House, Could He Declare Himself Bankrupt And Would I Be Able To Keep Up Pmts With My Iva And Transfer The House In My Name? Or Would We Both Have To Go Bankcrupt?

debt_doctor

You would not lose your house in BR if there is no equity in it. You can get someone to buy out your interest in it for a £1 plus low cost conveyancing ( £ 250 )

Did you take advice from a free debt charity before taking out your IVA ? If not then do it now !