|
|
| The independent answer to your debt problems | login join |
|
Marky B
| 08-12-2011 06:44 PM |
|
Joined: 08 Dec 2011 Posts: 4 | HI everyone great forum! Ive been in an IVA for just over a year originally owing 15k to creditors & paying £200 a month but the IVA was agreed to by Creditors if I increased my work & earnings within a year & then in year 3 & on wards rising up to £300 a month but cost of living has gone up lots since we 1st entered the IVA. Im self employed & can not increase my hours or earnings as I have to care for my sick wife who needs to have home dialysis & whilst she does the treatment I have to be there plus I am classed as her Carer. We have very little Equity in our home & our car is worth very little & need it for my work , have no savings or due any money . weve been sent lots of letters & received phone calls from companies saying that we should of gone Bankrupt & we have been mis sold the IVA. So of course this has got me thinking should I have gone Bankrupt or should I be looking to do it now? |
|
MarkWilley
| 16-12-2011 09:19 AM |
|
Joined: 16 Dec 2011 Posts: 2 | Well I won't recommend you to file bankruptcy any soon as far as you can manage the situation. Try and find a way to get some extra money, you can always work from home and stuff... But if you feel like bankruptcy is the only option left with u! I think you should probably consult a lawyer or so. |
|
grace
| 17-12-2011 10:19 AM |
|
Joined: 17 Dec 2011 Posts: 1 | Hello, I am new to the Forum. Is there anyone out there who has gone bankrupt and have not had all their disposable income taken from them. Thanks G |
| DW George | 29-12-2011 03:12 PM |
|
Joined: 01 May 2007 Posts: 1037 My Profile | Hi Marky B Bankruptcy is ideal for those who have little to no assets to protect and don't have a steady income. I think you should consider bankruptcy as your income isn't steady, you have don't have any equity in your house and you have other pressures in your life! Bankruptcy is quick and and relatively painless. You may be entitled to a Debt Relief Order which is a cheaper form of bankruptcy. But failing that bankruptcy for you will clear you debts in one year. |
|
Marky B
| 30-12-2011 01:28 AM |
|
Joined: 08 Dec 2011 Posts: 4 | many thanks guys some good advice & a lot to think about |
|
Marky B
| 30-12-2011 09:23 AM |
|
Joined: 08 Dec 2011 Posts: 4 | just looked into a Debt relief order but unfortunately because we are already in a IVA we wouldn't be allowed to apply. |
|
emmabail
| 18-01-2012 07:14 AM |
|
Joined: 18 Jan 2012 Posts: 5 | If you think that you are not bale to do the repayment and feel under pressure then filing bankruptcy is the right legal way for you.File bankruptcy as soon as possible with the help of bankruptcy attorney.Tell them all the truth about your condition on the basis of that they will tel you what type of bankruptcy you need to file.Filing bankruptcy will give you a new and fresh start. http://www.filingbankruptcypros.com/ |
|
Marky B
| 19-01-2012 10:24 AM |
|
Joined: 08 Dec 2011 Posts: 4 | thanks Emma |
