previous Thread last night

Bismarck

so, basically you can't afford to do an IVA, whether you want to or not...isn't an IVA as serious for your job as a bankruptcy? suggest a DMP regardless and see what the next few months bring...don't see a lot mor eoptions, I'm afraid.

good luck and keep us posted...

take care

troubled42_2

I have got the £400 spare to go onto an IVA through getting cheaper DD's and working more hours in work.
Is it true that if I earn over what has been agreed with the IP then it should all go to him at the end of the year?????? or I have heard that it is split 50p each been me and the IP.

Anyone any ideas....??

Debaz10

Hi trouble42 just been reading up on this thread .going back months we tried to do an iva but no spare money we were well in the minus -280.I now have doubled my hours got rid of the car loan and just paid the arrears on the mortgage so they have let us go on interest only. so our incomes now show we have £350 spare but what we owe creditors is about £38000.we know iva does not suit everyone but we really want to keep our home. the more you read about iva s the more confused you get. how do they check what you earn over my hubby gets a bonus once a year would they know about that?I will be ringing monday to see what we can do hopefully it will be good news ,the past 12 months have been terrible you try and hide it from the children but so hard sometimes x

troubled42_2

the older kids have an idea what is going on............................ it is almost impossible to keep it from them.
IVA or DM plan who knows.............all these Companies have thr own thoughts on the best way.
The only person who appears to win is the Insolve Prac

troubled42_2

Thanks Debaz10
I have heard two things.
1. Any money over the amount you state you earn goes straight to the IP. So you can work alkinds of extra money not to see a penny of it, but it does go off ur debt.
2. Out of the additional money it is worked 50p/50p on the extra money.
Apparently if you go on the IVA you need to read the small print very carefully as its all stated in thr. And it depends on how strict the IP is.

Debaz10

Thanks trouble42 not working tomorrow so going to update my budget sheet and get intouch with the iva people monday. Just so fed up of not being able to answering the phone and had a few people on the door step too.we have worked so hard to free the money up to do this really cant see another option. x