CCCS panicking me!

girlie_2

Ive just spoken to national debtline again and spoke to someone different who said that either an IVA or bankruptcy would be the best options but it was up to me to decide but even he admitted that if my cirumstances changed and i wanted to move out of my parents then the IVA may fail if i can't keep up the set payments and i may then have to go down the bankruptcy route so surely it makes sense to skip the torment of an IVA and go straight down the bankruptcy route?!?

blind-as-a-bat_2

Yep that about sums it up

If you enter an IVA or go BR and get an IPA it is unlikely to make much differance to your surplus income that is left to be honest and as ive said if you cant guarentee the level of surplus for 5 years you shouldnt enter an IVA anyway

Richard_S

Hi Girlie,

I've not been able to get on line today; some snotty little toe rag reported me for spending too much time on line. I've bought some extra strength laxatives, and I'm fairly sure who it is; there's going to be some hasty little movements in our office in the next couple of days.:eek: :eek: :rotfl: :rotfl:

Just to add my thoughts. IVA's are only really suitable for people who've got a high disposable income (which you have) and equity in property (which you don't). If those two conditions are not satisfied, then an IVA seldom works.

I would never recommend bankruptcy as being a good idea; it's a measure of last resort, and I think that's probably where you are now.

Regards

Richard

girlie_2

extra strength laxatives hee hee - i love you Richard - you always seem to make me laugh when i'm feeling so serious and confused.

Thankyou everyone for taking the time to respond to my desperate pleas xx
I'll carry on with my forms now - sigh x

fermi

Glad you feel a bit better about it.

I can't imagine there are many BR's on here who haven't been plagued by an attack or two of the "what if's?" or the "am I doing the right thing?" in the weeks/days before BR.

It certainly got to me in the run up to BR.

Humour helps............:D

girlie_2

thanks fermi

Humour definately helps so bring it on

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:

rog2

girlie wrote: »

Ive just spoken to national debtline again and spoke to someone different who said that either an IVA or bankruptcy would be the best options but it was up to me to decide but even he admitted that if my cirumstances changed and i wanted to move out of my parents then the IVA may fail if i can't keep up the set payments and i may then have to go down the bankruptcy route so surely it makes sense to skip the torment of an IVA and go straight down the bankruptcy route?!?

Excellent advice from NDL, girlie. Of course the final decision must be yours - just remember, though, that if you do decide to go down the rout of an IVA and it fails (as quite a high proportion of them do) then bankruptcy is often an inevitable result. Your 'surplus' income is going to be eaten up whichever option you choose - I know what my decision would be.
Good luck.

debt_doctor

Hi,

I completely stand by my previously quoted post. Your right to choose BR even with a large surplus income ( temporarily) AS 70% of your more realistic excess income under an IPA for 3 years is always going to be much much cheaper than all your strictly controlled spare income for 5 years.

No contest.

I really would sort out rented acc and all costs that go with it before BR, even if you are renting off your parents. Proper tenancy agreement, everything. No need to tell OR that landlord is your parents unless he asks.;)

DD

rog2

debt_doctor wrote: »

No need to tell OR that landlord is your parents unless he asks.;)

And even then, it wouldn't matter, as long as you are 'paying' a reasonable 'rent' compared to other rental properties in your area.

girlie_2

Thanks guys. I have looked into rent for 1 bedroomed flats in the area so i have a guideline for rents and i've also had a sneaky look at the tenancy agreements in WH Smiths so i'm going to look online for something similar to them but for free

girlie x