My I.V.A can we get out of it??????
anthonyj238
Posts: 9 Forumite
in IVA & DRO
Is there anyway we can get out of an i.v.a.........
Which is only down to bad managment from debtmatters this was then transferred to Grant Thornton without our knowledge or consent.
We have been in the i.v.a since july 07 with debtmatters.........than changd in feb 08 to grant thornton......
to put you into out picture we have around :
£ 46,000 un-secured debt
£ 45,000 secured on house
£ 750 morgage pm + the usual outgoings nothing flush + we have 3 kids
Our dispossable income is around £150 pm
We originally paid £222 per month each Me and the wife (£444)......this was a massive struggle. ...this put us in a worse position and prob shoud have wriiten to creditors ourselves, just before we got a letter telling us Grant thornton was taking over my wife contacted debtmatters informed them of the difficulties we was having and they said to reduce it to £50 each. (Grant thornton have no knowledge of this)
We have continued to pay this, then we gets a phone call last week asking why we are paying this and to send our finances to them for assesment. I am extremely concerned they will now say you have to go bankrupt......
Can they do that???????
Or is an i.v.a in place going to protect us???????
Any advice is welcome with open arms.
Regards
Anthony :j
Which is only down to bad managment from debtmatters this was then transferred to Grant Thornton without our knowledge or consent.
We have been in the i.v.a since july 07 with debtmatters.........than changd in feb 08 to grant thornton......
to put you into out picture we have around :
£ 46,000 un-secured debt
£ 45,000 secured on house
£ 750 morgage pm + the usual outgoings nothing flush + we have 3 kids
Our dispossable income is around £150 pm
We originally paid £222 per month each Me and the wife (£444)......this was a massive struggle. ...this put us in a worse position and prob shoud have wriiten to creditors ourselves, just before we got a letter telling us Grant thornton was taking over my wife contacted debtmatters informed them of the difficulties we was having and they said to reduce it to £50 each. (Grant thornton have no knowledge of this)
We have continued to pay this, then we gets a phone call last week asking why we are paying this and to send our finances to them for assesment. I am extremely concerned they will now say you have to go bankrupt......
Can they do that???????
Or is an i.v.a in place going to protect us???????
Any advice is welcome with open arms.
Regards
Anthony :j
0
Comments
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I was a victim of Debtmatters too! They manipulate my income and expenses to get me through IVA and made me pay 460 pounds a month - money I do not have when my actual disposable income was only 250 pounds. Anyway, I was told by my current supervisor Payplan that I can get out of IVA but I have to have something else in place - i.e DMP (which you will be paying for your debt all your life) or Bankruptcy.
In fact, bankruptcy isn't a bad thing - it's just the unknown. Have a look at the bankruptcy threads - it may help you see things in another light or speak to your local insolvency practitioner - they give free advice for the 1st hour and they can give you valuable advise. I went to my local IP and I walked away 10 tonnes off my shoulder as I can clearly see where I should be going next.
I am sorry for the waffle - I hope it helps.0
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