isa

[cowboy]

hi i need some advice i have decided to go bank rupct with another company as after ringing synergi a couple of times could not speak to a ip as they yet have not signed me to another ip as my one left explaing to them my situation about my wife who is due to have a hip replacement at anytime now synergi on 2 occassions have failed to contact me back so nearly 2 weeks ago i sent them a lettar explaing again in detail and that i cannot carry on with iva so i may have to go into default i have a isa which should have been in with iva i have just recieved a statement from isa which tells me synergi has not closed it has now i am gone in to default can synergi still close the isa and take the money?[?]

[MelanieGiles]

Hi Cowboy

Your post reads a little muddled, so could you answer the following questions please:-

1 Are you currently in an IVA which has been accepted by creditors
2 Are Synergi acting as your IP firm
3 How much are you paying per month
4 What effect will your wife's operation have on the IVA
5 Do you have any assets which would be at risk under bankruptcy proceedings?

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[cowboy]

hi [1] yes ive been with the iva for last 15 months could not afford what they asking anymore [2] yes, but not to their best abillities, [3] was paying £560 now going bank rupct did not pay them last month or this month sent letter 2 weeks ago phoned them twice before i sent letter outlaying probblem they did absoulte nothing to try and correct or talk about the probblem in hand [4] i will only have one wage coming in of approx.£900 to £1000 my wife will only get ssp and my rent is £500 a month before i start anything else she could go in any time now i dont know how long she be off thats if she returns to work as she is a cleaner in nursing home and is on her legs all day + she is now 58y old [5.] not has far as i am aware i have a car which is worth about £1000 to £1200 my car is used for me to go back and forwards to work plus to run my daughter around as she suffers schiozophrenia and phobia of crowds ie buses trains crowded shopping centres etc etc otherwise just normal everyday household just like everyone else thanks i gladly answer anymore questions that you put to me. plus company i am with now who are dealing with my br have told me br hearing next march 08

[MelanieGiles]

Then bankruptcy definately appears to be the best way forward for you - as nothing is more important that your wife's health.

Hope it all works out and do let us know how you get on.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[cowboy]

can the iva still take out the isa now ive gone indefault? as yet they have not taken it

[Adam Davies]

Hi
I would have thought that you are the only one who can withdraw the money from your ISA.If you declare bankruptcy you will have to declare this.
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

[MelanieGiles]

It is usual for the assets which you have pledged to creditors under the IVA to be held in trust for those creditors who are bound by the IVA. But this generally covers assets which are held by the Supervisor rather than unrealised. You will need to check the terms of your own IVA for further clarification of this, but in any case it is largely irrelevant to you as either way either the Supervisor or the Trustee gets the money.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp