Bankruptcy

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jc4

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Post by jc4 » Tue Jul 08, 2008 11:09 pm
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My husband and I are on IVAs and it has been suggested to us by our IVA company that if we were to go bankrupt the Official Receiver would probably let us keep the house as there is very little equity in in, roughly £10,000. Does anyone know how likely this because I would go bankrupt tomorrow if I thought I'd get to keep the house.

Alos, we'd love to go the Bradford meeting but it's just a bit too far for us. We daren't risk going over our petrol costs and we couldn't afford a hotel for the night. Is there any chance that there would be a meeting in the North-east of England in the future as we'd definitely go to it.
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plasticdaft

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Post by plasticdaft » Tue Jul 08, 2008 11:13 pm
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Are you unhappy with your IVA??
How long has it been running??
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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jc4

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Post by jc4 » Tue Jul 08, 2008 11:17 pm
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It has been running a year but they are trying to change it and I think it will fail now.
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MelanieGiles

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Post by MelanieGiles » Tue Jul 08, 2008 11:37 pm
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I think that you will struggle to persuade the OR to walk away from equity of £10k, but at the end of the day if properties continue to fall perhaps you will not even have £10k in six months time.
Regards, Melanie Giles, Insolvency Practitioner
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