yes it was - I will be certainly approaching them - we were paying out almost £900 a month for close on two years before we pulled the plug as just couldn't do it. anymore I just find it strange that the biggest joint creditor NRAM are claiming to have received no payments anyhoo - will keep the forum updated - -

they were the IVA Advice bureau

Hi all Myself and partner had an IVA that ran for two years it then failed mainly due to redundancy etc and unable to keep up with payments etc OK fast forward three years I am now dealing directly with creditors - BR not really an option as don't want to loose house What I am finding is that no money has been paid to creditors from IVA - not a bean . NRAM was biggest creditor and they have received nothing I reckon between us we handed over £20k to the IVA company - I know that I will have to trawl through paperwork and check the conditions - has anyone else found this ? Has the IVA company just kept all the payments in fees ????

ok all done and CPR 31.15 letter on its way. Thanks for assistance

Thanks Andy will do On the MCOL should I at this stage just acknowledge service and ask for 28 days to prepare my defence ?

Hi Andy Thanks for replying . Issue date is 17th Feb 2014 Claimant is MKDP LLP in Milton Keynes Particulars of Claim The claimant claims the sum of £14 000 being monies due from the defendant to HSBC Bank plc under a bank account facility regulated by the Consumer Credit Card Act 1974 and assigned to the claimant on 13th March 2013 . the defendants account number was ..................... \it was a term of the abnk account that any debit balance would be repayable in full on demand . The defendant has failed to make payment as required by the statuary default notice served by HSBC pl . The defendant claims the sum of £14 000 and costs . The claimant has complied as far as is necessary with the Pre Action Conduct Practise direction

Hi to all hopefully I can het some help or assistance - . I appreciate there is probably the answer somewhere here so if I can be redirected great. I have today received a CCJ from the bulk centre in Northampton, The debt is for an old HSBC loan . It was dealt with by an old IVA in 2007 - but this failed in 2009 . I am not disputing the debt - but have never been in a situation financially to deal with it. - Due to job loss etc etc . I am still not as self employed now and earning pittance of old salary , Thd debt is for about 14K and was a balance of a 30K personal loan, - there was no PPI . Any help / advice gratefully received

Just a quick update on the original thread - IVA failed now for 6 months and the creditors are all beginning to get back in touch which is nice, Interesting some are more agressive than others and some havent even sent a letter. But it is the usual stuff threats etc which I am now an old hand at. It is funny to see the stuff they invent like a letter from the Pre Sue unit LOL Anyway I am now thinking about the future and what to do. I am nervous about going BR as I fo not want to loose my home . I am getting a valuation and am probably still in Negative Equity it is the 3 years + rule that worries me. I have managed to get new employment and finacialy if you take away what we owe our week to week cash flow is in theory looking OK I am going to look into the possibility of trying to negotiate a repayment scheme with the creditirs - try and extend the length of the mortgage to bring down paymenst and see if we can have another crack at paying them off. Still not sure though - the house is key to whatever I do

cheers phillipo The area I live in rental is expensive - south east commutable into london within 20 mins . I have 3 kids and 4 bed houses are all going for around £1800 + even 3 bed houses are £1400 , My mortgage is £1500 so should be ok as rental is not cheaper ,Also I am stuck on 6.4% fixed rate that should come down next year- hopefully unless NR have a surprise in store for debtors like me. NR is also my biggest creditor - yes I had a lovely together deal . Thanks for your input it all helps form a picture of where to go and how to go

hi - we are sitting in negative equity at the moment - bought in July 2007 at top of the market - in fact I think we personally created the run on NR - even if you give a conserative 15% drop since 2007 we are probably sitting on 30K in the red - more if the house was to lie empty for 6 months. The house opposite gor repo a year back and it was empty for close on a year and then went to auction for a huge loss on what it went for even less than it went for in 2005. Yes I am pretty good with the calc - as we have been forking out £900 s month for the last two years to the IVA - we are pretty used to working our budget. That is the problem - as you have to be really sure about everything - unexpected costs - the car broke down one month and the garage wanted £800 to fix - , our shower sprung a leak etc etc you know what life is like . I will certainly look into getting / taking advice . It just all comes down to cash as per - Our IVA has now breached so we will have to make decisions soon - noit sure how much breathing space we will need or are allowed

f*** me - if you excuse my paraphrasing - most people like me who are looking at BR as the end game solution - is is because we have nada in the bank - every penny is being spent on month to month - no idea where thiings like the £750 to go BR are supposed to come from and if you then have to get a brief - well if I had that sort of disposable incoime I wouldnt be considering thiis route I have also been considering hunkering down - ignoring the calls once the crediors eventualy realsie that the IVA has failed and seeing how long we can go on - but I reckon it would be not long before the charging orders reared its head., And I do want this to come to a conclusion sometime - 48 years old now and getting tired of it all. will have to look very closely at everythiung

Hi there - re your point that if it is deemed that renting could be cheaper they will not allow full mortgage payments - wont that simply mean that you are unable to pay the mortgage and end up gettiing repossesed ? The house is then sold at a much bigger loss and everyone looses out . Surely if the bankrupt can still pay the mortgage there is little to be gained in a distress sale releasing no equity just to satisfy the point that a few hundred quid might be released to pay for a cheaper rental ? - I agree with the point about fighting for every penny on a IPA - that has been the pronlem with a lot of IVA's - the debtor is just simply happy to get the creditors off their back and accepts a budget than in reality just wont work - not for 6 or 7 years anyway in today climate of food/fuel/utiliity inflation and falling incomes .

check the terms of your IVA - the chances of your g/f getting a remortgage with such a marginal loan to value is virtualy nil in todays climate - eben if she had a perfect credit score it would be hard - but with an IVA on the record ......... I know that my IVA saiid that there would be an extra year if any equity could not be released and there was sufficient . It will be close - also a lowish valuation will help !

I think the important point is that the IPA cannot be too brutal that the debtor starts to struggle and then misses other paymentys such as utilities and council tax - they back to the beginning. The problem a lot of people have is that job market is a nightmare - salarys are at rock bottom so if you do have to switch jobs then it can cause problems. That was the problem with the IVA we- went with a fairly tough budget - and as soon as my circumstances changed after two years - then boom the IVA became untenable. It cetainly is not a very adaptable product, However in all cases like mine and people who are in difficulty all we can do is cross each bridge when it comes with enough knowledge to get across . Thats where places like this help - My chief concern now is how to avoid loosing our house . so need to get my head round beneficial interest - how it works and what is the best option. Getting an valuation done soon on property to see where we are . As a family we can probably keep one half of the IVA going - just got to decide if that makes sense ,

ok I see - the whole beneficial interest is confusing if my partner was still paying her IVA and we werer up to date with the mortgage could the OR still force a sell against her will - I need some good advice on what is the best way to go here - s Phillip Gill sold the IVA - they have a BR divison as well so will see what they say -