Advice please

Rasberry_Diva · 12 November 2008 at 3:37PM

hello everyone

just wanted to ask some advice, i am on a IVA joint with hubby, have been since 2006, my payments have gone up to $468 p/m now and i'm finding it hard to survive as i'm on benefits and OH doesnt help pay towards any of it .

I just cant afford these payments anymore and am struggling, should i go bankrupt completely, or just myself, can they reduce the payments, should i just stop paying until i'm ok again, any advice would be gratefully recieved.

Oh i'm with a company called McCambridge duffy if anyone knows anything about it.

vixens_mum · 12 November 2008 at 4:25PM

We have been on an IVA for almost 2 years, and claim state pension.
If your circumstances have changed, ie different source of income ,or the amount you have to pay to your bills have gone up. Contact the company and ask for a "Statement of Affairs". This tells you how much you pay to each creditors. Also what your allowances are, if there is a difference enter it along side and ask them to re-evaluate.
Hope this has been of some help.

insider66 · 13 November 2008 at 9:02AM

if the problem is your OH, as it sounds, then if you stop paying the iva, they will breach you both and look at bankruptcy for you both.
if you have no assets this may the best option, if you have a house to protect then apply to reduce the payments as above.
bankruptcy for just you will cancel the iva and leave your OH with all his debt liabilities in full, nothing will have been paid through the IVA

pickone_2 · 15 November 2008 at 11:23PM

hi myself and my wife are in an iva with mc cambridge duffy our 3rd year earlier this year our circumstances changed and we could not afford the payments £602 so we contacted mc duff and asked for a variation of terms they wrote to our creditors and agreed a reduced payment £400 only downside is have to pay extra 12 months hope this helps

moneysavingplumber · 15 November 2008 at 11:50PM

Rasberry_Diva wrote: »

hello everyone

just wanted to ask some advice, i am on a IVA joint with hubby, have been since 2006, my payments have gone up to $468 p/m now and i'm finding it hard to survive as i'm on benefits and OH doesnt help pay towards any of it .

I just cant afford these payments anymore and am struggling, should i go bankrupt completely, or just myself, can they reduce the payments, should i just stop paying until i'm ok again, any advice would be gratefully recieved.

Oh i'm with a company called McCambridge duffy if anyone knows anything about it.

If your income has reduced then you need to get in touch with the supervisor at M & D, and submit your revised income and expenditure, to see whether it's possible to sustain the IVA. Were you on benefits at the outset of the arrangement or have your circumstances changed? When you say your OH doesn't contribute do you mean that in your joint finances his money is already earmarked for other costs or that he's not contributing what he should?

Rasberry_Diva · 22 November 2008 at 10:05PM

moneysavingplumber wrote: »

If your income has reduced then you need to get in touch with the supervisor at M & D, and submit your revised income and expenditure, to see whether it's possible to sustain the IVA. Were you on benefits at the outset of the arrangement or have your circumstances changed? When you say your OH doesn't contribute do you mean that in your joint finances his money is already earmarked for other costs or that he's not contributing what he should?

i mean that he doesnt contribute what he should be, so its all on me to pay! just finding it hard to fork out 468 each month.

Rasberry_Diva · 22 November 2008 at 10:07PM

pickone wrote: »

hi myself and my wife are in an iva with mc cambridge duffy our 3rd year earlier this year our circumstances changed and we could not afford the payments £602 so we contacted mc duff and asked for a variation of terms they wrote to our creditors and agreed a reduced payment £400 only downside is have to pay extra 12 months hope this helps

Did consider this but dont really want it to drag on any longer i'm coming up to my 3 years in march 2009 and i just so want this finished with thankyou all for the advice will give mc duffy a call and see what they say to me

trudij · 23 November 2008 at 10:23AM

best of luck.

moneysavingplumber · 23 November 2008 at 12:30PM

I would also call CAB and National Debtline, point out the whole situation, especially that OH isn't playing ball and find out what your own options are. Does your hubby realise he will be made bankrupt if the IVA fails?

lawrence_jameson · 25 November 2008 at 11:20PM

hello everyone please help. we are currently with a company called Varden-Nuttall,we have been paying now for 7 months and now the payments are going up. when we took out the iva we thought the payments would be the same every month.when we asked if the payments could stay the same they said no, is this correct or is there anything we can do. Thanks for any help.

mistercovert · 25 November 2008 at 11:24PM

are the payments going up because you are earning more money? You normally have to send in your payslips every 3 or 6 months and then they are assessed to see if you have earned extra money and then they will take 50% of the extra money and add it to the IVA fund.

Rob H

Advice please

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