advised to go bankrupt, Im confused

19 posts Page 2 of 2
Post Reply
 
 

Sarahlou

User avatar
Posts: 3
Joined: Fri Feb 29, 2008 4:29 pm
Location:
Post by Sarahlou » Sun Mar 23, 2008 12:13 am
Quote
I was paying £843 when it first started in 2006, then in July 2007 it went to £1,016 and in Jan 08 it went to £1,148.00. To be honest, it was ok when it was £843 but I doubt it will go back down to that. See my husband doesnt get much pay rise if any.
Top
 
 

Lisa2009

User avatar
Posts: 5411
Joined: Thu Aug 16, 2007 12:17 pm
Location:
Post by Lisa2009 » Sun Mar 23, 2008 7:50 am
Quote
I'm quite sure your creditors would accept a variation and reduce your payments rather than have you go bankrupt and them recieve nothing.
Ask your IP about filling in a new I&E and see where you go from there.

Good luck
http://mrsskint.blogs.iva.co.uk/ 'Our Story'


Nil carborundum illegitimi
Top
 
 

ianmillington

User avatar
Posts: 1331
Joined: Thu Jan 24, 2008 5:07 pm
Location: United Kingdom
Post by ianmillington » Sun Mar 23, 2008 10:26 am
Quote
Agreed - that's got to be what you should look at first.

Ian
Ian Millington
Insolvency Director
PDHL Ltd (formerly Personal Debt Helpline Ltd)
www.pdhl.co.uk
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Sun Mar 23, 2008 7:53 pm
Quote
You don't need a variation if you are merely asking for the payments to be reduced down to the original sum - all that is needed is a realistic and sympathetic IP, but you do need to provide the evidence to justify the reduction.
Regards, Melanie Giles, Insolvency Practitioner
Top
Post Reply
19 posts Page 2 of 2
Return to “postings for march”