HELP - anyone out there got advice?

uselesswithcash_2

Hi, trapped in IVA I can't pay. Payments already down to minimum creditors will accept, currently running with a deficit of £121.00 per month and can't clothe the kids or make ends meet. Have all but decided to go bankrupt as can't go on like this. Cannot trim outgoings any further. Has anyone gone for bankruptcy after IVA? Also suspect am being swizzed - creditors have accepted 25p in the £ which amounts to £8500, have already paid in £5000 but IVA firm wants a further £11750 to close or £210.00 a month for next 6 years. Something to do with the fees; accept debt is my fault, paid rent and bills on credit following divorce and illness, but agggghhhh Can't even find £360 to go bankrupt.:mad:

MrsTinks

Ditch the IVA firm asap and contact someone like CCCS or the other charities in my signature. Right now you are paying someone a LOT of money to deal with your creditors - I bet you can do a much better job yourself and I've never heard of an IVA company wanting more than the debt to close an IVA before? Maybe someone else can shed some light?

uselesswithcash_2

Hi thanks for the response - will try your links!