FabSwingers.com forum: IVAs

By (user no longer on site) OP
over a year ago

Well unfortunately the shit has knocked the fan over in our house and I'm now having to do this, anyone else in the same boat

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By *ushroom7Man
over a year ago

Bradford

Hope you get to keep the DB9.

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By (user no longer on site)
over a year ago

ive been saving for bankruptcy for the last 2 yrs.....

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By *inkershoes69Woman
over a year ago

maidstone

was made bankrupt few years ago

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By (user no longer on site)
over a year ago

Went thru the full bankruptcy several years ago, its ok actually, gets you back on your feet and life goes on fairly normally.

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By (user no longer on site)
over a year ago

"Went thru the full bankruptcy several years ago, its ok actually, gets you back on your feet and life goes on fairly normally."

cant bloody afford it at the mo thats my problem

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By (user no longer on site)
over a year ago

Good luck, had a friend go through it it was bad for him! hardest part was staying positive in attitude, you are under their rule until you get to the other side... but medium term it was the only option and worked out in the end.

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By *inkershoes69Woman
over a year ago

maidstone

i lost my house, my car and 82k but believe it or not im happier now! no more pressure

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By (user no longer on site)
over a year ago

"i lost my house, my car and 82k but believe it or not im happier now! no more pressure

house repossesed.... had to sell my car last yr..... ex hubby stopped payin the morgage when i left him, he didnt tell me about the repossesion

I now owe 30K for a house i dont own

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By *inkershoes69Woman
over a year ago

maidstone

sounds a bit like what happened to me but had the added joy of inland rev as well

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By *leasureDomeMan
over a year ago

all over the place

[Removed by poster at 26/01/12 13:24:38]

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By (user no longer on site)
over a year ago

i went through B'ruptcy about 8 years ago and was the best decision i made.

borrowed the £350 of my parents to do it, as i was working 70 hours a week and ending up with £50 in my pocket after paying everything out.

taught me to appreciate money and stopped the 'want it now at any cost' attitude i had developed.

good luck with it, there isnt the stigma that was attached to it years ago as so many people are having to do it. i was lucky in that i didnt have a home to lose so just stayed where i was

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By (user no longer on site)
over a year ago

"borrowed the £350 of my parents to do it, "

its almost double that now, and as my parents help me out with other stuff i dont feel able to ask them to lend me more money

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By *leasureDomeMan
over a year ago

all over the place

its a sad ,stressful time ,look after you and yours

all the best

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By (user no longer on site)
over a year ago

glad to hear from others that you get through it, i owe 30k, am on a debt management plan (will take 10 yrs to pay off), have been thinking about bankruptcy but am scared, the only thing i own is my car worth 3k, i need it for work and for going north to see my poorly Dad, someone said they can make me sell it!

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By *iewMan
Forum Mod
over a year ago

Angus & Findhorn

all the best to people going thro hard times..

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By (user no longer on site)
over a year ago

"glad to hear from others that you get through it, i owe 30k, am on a debt management plan (will take 10 yrs to pay off), have been thinking about bankruptcy but am scared, the only thing i own is my car worth 3k, i need it for work and for going north to see my poorly Dad, someone said they can make me sell it!"

stick it in your parents name.... u dont own it then?

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By (user no longer on site)
over a year ago

i cant help but think how easy it is to get into debt nowadays.

Finance companies left, right and centre willing to give unsecured loans, HP etc.....and the preverbial has now hit the fan

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By (user no longer on site)
over a year ago

"Well unfortunately the shit has knocked the fan over in our house and I'm now having to do this, anyone else in the same boat

If the payments are reasonable, and the term is relatively short,(& all interest is stopped), it shouldn't be too bad. If not, and you've no real assets, you may as well do the full bankruptcy, as the credit etc. penalties are pretty much the same, & the bankruptcy is often over in 12 months.

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By (user no longer on site)
over a year ago

"i cant help but think how easy it is to get into debt nowadays.

Finance companies left, right and centre willing to give unsecured loans, HP etc.....and the preverbial has now hit the fan

Its actually a lot harder these days, many more checks than, say 5 years ago. The paperwork on my first house in 1986, was a couple of pages & a letter to your works. This year, was unbelievable, having to produce paper trails of where money had come from etc.

It seems harder to me, for people who cannot use the banks/building societies, and are forced to use such as the Provy, or, far worse, 'payday loans'. Interest has never been so low, yet these quote 4-figure apr's! They create a vicious circle of debt, and should be banned.

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By *irtydanMan
over a year ago

Blackpool

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By (user no longer on site)
over a year ago

"borrowed the £350 of my parents to do it,

its almost double that now, and as my parents help me out with other stuff i dont feel able to ask them to lend me more money"

If its only the house debt, and no-one else is bothering you for money,(cards, etc) it may seem like throwing good money after bad. But, if you are being hassled/threatened by a number of debtors, it would be a massive weight off your mind lancs. I helped a friend go through it a few years ago, and it was very straightforward. CAB will put all the paperwork together, you just need the fee.

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By (user no longer on site)
over a year ago

You could do that, but they won't take your car off you, if you need it for work. It is possible they consider a 3K car excessive, but I would doubt that

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By (user no longer on site)
over a year ago

"Well unfortunately the shit has knocked the fan over in our house and I'm now having to do this, anyone else in the same boat

Not as bad, MrM has a Debt Manageent Plan (DPM)

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By (user no longer on site)
over a year ago

"Well unfortunately the shit has knocked the fan over in our house and I'm now having to do this, anyone else in the same boat

Not as bad, MrM has a Debt Manageent Plan (DPM)"

DMP is ok, if you can see the end (ie it not going to last 20+ years), and you can still have a decent standard of living. Hope he is with PayPlan, as I believe most others take a chunk of the money that you are paying, before it gets to your creditors.

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By (user no longer on site)
over a year ago

I remember a newspaper story a few years ago, where someone set up a fake Debt Management business. They got the details of peoples debtors, and merely redirected the mail, while the people paying thought they were clearing their debts ( as they were no longer being hassled), the con-men just pocketed their payments. Think it was in the North East, possibly Redcar.

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By (user no longer on site)
over a year ago

unfortunatly, just after my divorce i was made redundant... ex wont help me financially and ive got in total 40K debt... credit companies arnt hasseling me, i just get a regular letter that i ignor, lol, ive nothing for them to take it they send the baylifs!

Ive been to debt advice and the CAB they both said that bankruptcy was my only option...... cant understand why when youve no meney it cost's so much to go bankrupt!

my only hope is that i get my day in court and can go and pled my case... ive run out of options

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By *inkershoes69Woman
over a year ago

maidstone

"unfortunatly, just after my divorce i was made redundant... ex wont help me financially and ive got in total 40K debt... credit companies arnt hasseling me, i just get a regular letter that i ignor, lol, ive nothing for them to take it they send the baylifs!

Ive been to debt advice and the CAB they both said that bankruptcy was my only option...... cant understand why when youve no meney it cost's so much to go bankrupt!

my only hope is that i get my day in court and can go and pled my case... ive run out of options"
i had no choice, they made me bankrupt, but all over now and happy again

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By (user no longer on site)
over a year ago

"Well unfortunately the shit has knocked the fan over in our house and I'm now having to do this, anyone else in the same boat

Not as bad, MrM has a Debt Manageent Plan (DPM)

Yep am with PayPlan, also when the companies asked for their money I waited until the debt collectors wrote as when payments were set up with them the interest stopped, as they and not the people I owed the money now owned the debt , if you get what I mean. One company was charging a minial 2% interest, that stopped when the debt collection company stepped in, so making the amount of debtstart to reduce as there was no interest, 5 yrs to go and counting .... lol

Dont know if that reads right now ,,,,, lol

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By *atureFem4FunWoman
over a year ago

Petts Wood

Hope it all works out for you Mally....this is going to be a difficult year for many on here, try to stay positive and hopefully it won't be so bad as you first fear.

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By *ugby 123Couple
Forum Mod
over a year ago

O o O oo

Only allowed links please on the forums.

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By (user no longer on site)
over a year ago

I have just come out of an IVA. It has been an incredibly hard 5 years. The company I went with were horrible, but luckily for me they were taken over by a new company who were lovely & very understanding. All I can advise is to think long & hard before you go for IVA as you will be at your most vulnerable and you really need to understand all the small print. Be very honest with the company & keep in touch with them every step of the way.

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By (user no longer on site)
over a year ago

"Well unfortunately the shit has knocked the fan over in our house and I'm now having to do this, anyone else in the same boat

Be very careful with IVAs. The company who organise it for you also have a vested interest in your keeping up the repayments. If you default, you are in deep s**t & the only only alternative (save a windfall)is to go Bankrupt.

Whichever way you go, your credit status bombs.

Contact Citizens advice & ask them to recommend a free solicitor who will go through options.

We know so many people - from different walks of life - who are going or have gone through the same thing. It is Hell but you are not alone.

Best wishes.

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By *ittle_brat_evie!!Woman
over a year ago

evesham

You could do that, but they won't take your car off you, if you need it for work. It is possible they consider a 3K car excessive, but I would doubt that"

Someone I know went bankrupt about 7 years ago, had quite a decent car but because she needed a car to get to work and lived in quite a rural area they gave her back some of the money they got from selling the car to get a little run around

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By (user no longer on site)
over a year ago

For those of you using debt management companies, there are many out there that do not charge, including one set up by the government, run by volunteers, don't use ones that charge, I fell into that trap, realised that the £30 they were charging me for using them, I could use to up the payments to my debts and that is what I did. Also the government run company will accept all the debts not just credit cards as some debt managements companies do. The other thing too though is they won't touch anything that has gone to court and is under a court order, they will work round this when they work out what you can afford

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By *ap AdgeMan
over a year ago

Wirral

Hi make sure you have copies of loan agreements ppi claim them back was in iva for eight years till company went under they did not pay creditors ex left me with 40,000 debts in my name including 20,000 of increased mortgage debt try the consumer forum for good advice if you have a home a loger is good idea good luck

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By (user no longer on site)
over a year ago

"Well unfortunately the shit has knocked the fan over in our house and I'm now having to do this, anyone else in the same boat

I'm going bankrupt as it's a better option for me

Hope it goes well for up Mally xx

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By (user no longer on site)
over a year ago

message away x

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By (user no longer on site)
over a year ago

"message away x"

Brilliant thanks but now I am too old or maybe too young

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By (user no longer on site)
over a year ago

Might be easier if you message me first

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By (user no longer on site)
over a year ago

"Might be easier if you message me first

try me now! im out of your age range, lol

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By (user no longer on site)
over a year ago

good idea about the car going in someone else's name, my daughter is 19, could easily do that. as far as i can see all the options bugger up your credit score which doesn't matter because i'll not ever be buying a house etc,, what pisses me off the most is the 30 k debt is debt from my ex marriage, all in my name crafty bugger, then i couldn't pursue him through court couldn't afford fees and don't qualify for legal aid.

posted another thread the other week about trying to go to court again but he'll le out of it, and everyone i know says don't go back, just put it behind me and move forwards, it's just very tough

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By *r n mrs togetherCouple
over a year ago

redruth

only glanced through this thread but if you owe less than 15k you can do a debt releif order through citizens advise and it costs you £90 well worth it for peace of mind

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By (user no longer on site)
over a year ago

also, (this is gonna sound awful) but my dad has mesothelioma, cancer caused by asbestos, just diagnosed, and he is gonna sue the pants off the company he worked for as it is incurable, if he wins he would help me out with the debts, but meantime, i'm struggling, if i go bankrupt then he gives me money the bankruptcy folk would want it, have to think very carefully

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By (user no longer on site)
over a year ago

"also, (this is gonna sound awful) but my dad has mesothelioma, cancer caused by asbestos, just diagnosed, and he is gonna sue the pants off the company he worked for as it is incurable, if he wins he would help me out with the debts, but meantime, i'm struggling, if i go bankrupt then he gives me money the bankruptcy folk would want it, have to think very carefully"

only IF they know about it....

thing to do now is set up another bank account, but not use it, as when you go for bankruptcy they will freeze your accounts.

also, with the car thing, you cant just simply put it in someone elses name. A) your insurance company will need to know, and this could boost your premium, or even render it null and void as they usually require YOU to be the registered keeper of the car, and B) they would want to know where your car has gone (guessing it wasnt bought cash, forgive me if wrong), how much you sold it for, and where the money has gone.

NOW.... IF you let your daughter have the car and buy a cheap banger to run around in they cant chase you for it, then you can transfer it back into your name afterwards.

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By (user no longer on site)
over a year ago

My own fault for getting myself into debt when I moved into my house and over-spent with renovations and purchases.

My mum and ex-hubby helped, however, I am too embarrassed to ask them for more help, as I believe I should learn to be sensible with money at my age.

I started to seek help early before I incur any priority debts, and still have a roof over my head and a car to run around.

All the debts are non-priority, and I have a DMP with PayPlan which does not charge, and it will take about 4 years to clear.

I am lucky to have a secure and what I would consider a well-paid job that allows me to live in comfort without having to worry when and where the next penny will come.

I have been monitoring my outgoings more carefully, and have cut down on unnecessary purchases.

I now have to save first before buying anything major, and have learnt to ask myself if I really need something before I buy it.

It is a wake up call for certain!

Good luck to everyone else in the same boat!

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By *eighleedsMan
over a year ago

leeds

not sure if the link is allowed so will not post one.

But for anyone having debt / Bankruptcy / IVA issues do a google for 'CCCS' (withou the quotes)

They are a registered charity , and do not charge any fees

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By (user no longer on site)
over a year ago

"not sure if the link is allowed so will not post one.

But for anyone having debt / Bankruptcy / IVA issues do a google for 'CCCS' (withou the quotes)

They are a registered charity , and do not charge any fees"

yes thats who my DMP is with, but the bit i can afford will take 10 yrs, i am in a secure well paid job but am paying extortionate rent, i'm on the housing list , at the bottom, soon as my lease is up in April i'll look for a smaller place, Dad will lend me a deposit, still hard with 3 hildren, i can see light at the end of the tunnel in the distance!

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