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Hi,

 

We are in IVA since 2014 July, due to change in circumstances the variation meeting with creditors arranged resulted in their refusal to accept the completion of IVA.

 

Having gone through various posts , as every individual has different case, I am getting confused

 

Having left with no other alternatives, I have couple of options for myself to accept the DRO and for my wife above £20000, go for BK, I am not sure as to what happens to the income as we are totally within the state benefits and my question is how are the funds managed on daily basis until 3 years of the BK, do we need to make any payments as there are no surplus or whether it is going to be decided by the trustee on each and every penny we spend. No assets, only a car used for disabled as a carer worth about £5000.

 

Help would be appreciated.

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Hello there.

 

I've moved your thread from the Welcome forum to the one dealing with IVAs and left you a link to follow.

 

People should be along later with advice for you.

 

HB


Illegitimi non carborundum

 

 

 

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Can i ask what debts you have in regards to the IVA, and who are the OC's and who is actually collecting the debt?


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Can i ask what debts you have in regards to the IVA, and who are the OC's and who is actually collecting the debt?

 

Majority almost 99% from credit cards and personal from banks and rest is from housing benefit overpayments about (£2500) which the council hasn't accepted to be within IVA and have a separate thread started for that

1% is for utilities

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Did you ever check the validity of your credit cards, personal loans etc before the IVA?


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Yes

 

I am paying IVA to Payplan

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