Bankruptcy Forms

[wyn]

After my previous posting ive taken my friends advice and am going to go down the Bankruptcy road. Ive obtained the forms but am not sure about the questions about list of unsecured creditors.. Im in an IVA at the moment so do i declare my IVA as my actual debt owed or do i have to get all the information of my previous creditors from my IP.
When my IVA was approved i destroyed all of my previous statements and the only ones that survived were the ones that were sent to the company which arranged my IVA.

[scaredkez]

wyn you need to get the list of your creditors as the IVA is not a debt just a formal way of paying back your debts under a programme so to speak, contact your ip and ask for a list of who they are and outstanding balances.
good luck
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[wyn]

Hi ScaredKez thanks for the advice I'll get in touch with my IP on Monday hopefully they'll agree to give me the information i need.. Not sure if you know the answer but can my IP stop me from going Bankrupt.Its just whoever i spoke to at my IP'S office didnt seem keen to go down this road..

[scaredkez]

no your ip can not stop you going BR, it maybe because they know now they won't be getting any more fees,they may offer to do it for you but they will charge you, do it all yourself on line at the insolvency site, is there any reason why you don't want to continue with your iva, maybe they can't see why you want to give up on it, how long have you been in it? just trying to build a picture as sometimes depending on how long you have been paying into your iva they have a clause were they have to hold money back to petition for your BR if your iva fails.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[wyn]

Hi ScaredKez..The reason why in giving up on my IVA is that im going on reduced wages shortly after being off from work since June..And now due to my reduced wages not being able to afford my IVA payment every month..Ive just been signed off for another month and to be honest im not sure when or if i'll ever get back to work. My IVA was agreed in March 07 so ive not been paying into it for that long...But to be honest i stll get letters from my biggest creditors demanding payment and claiming that my IP's company did not inform them of my going into IVA. So all in all its a mess.

[scaredkez]

ok thanks for that wyn, just wanted to see if there was a chance they had held fees for you BR, but with it being such a new iva the only payments you will have made will cover their fees, i suggest you inform them you are going BR if that is the definite route you are taking and make no more iva payments and use the money to petition for your BR, it won't go against you , the best thing now is to get the fees together, of course you will be hounded by your creds but you will at least know that once you have gone BR all the unsecured borrowings cannot touch you, if you need any more info ask away
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[wyn]

Thanks for the advice Kerri.. I'll get on to my IP on Monday and i'll let you know how i get on..Thanks once again for your time...

[Skippy]

When I completed the online BR forms I used the information about the creditors that I had provided for my IVA.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Adam Davies]

Hi Wyn
I just wanted to echo Scaredkez,s excellent advice in that if you have made your mind up regarding bankruptcy then cancel your standing order/DD and use the money to fund your bankruptcy application.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[wyn]

Thanks all. Ive spoken to someone at my IP'S office today who has said they will post me the amounts i owe my creditors even though they did seem reluctant to do so.

I also spoke to someone at citizens advice who was most helpful and has offered to help me fill the Bankruptcy forms in once i get the information from my IP..So hopefully it will be sorted soon..Im just really nervous..Ive also been told theres a possibilty i may lose my car it a 10 year old BMW with high miles and is probably worth around £1500.00 in its condition.Any help?

[MelanieGiles]

I would have thought that a car of such low value was safe, so long as it is your only vehicle and is essential for transport to and from work.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[wyn]

Thanks Melanie..Does anyone know if im obligated to inform my IP im going bankrupt

[MelanieGiles]

Yes - there is no formal obligation, but I am sure that you would do this out of courtesy to them.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk