I have been made bankrupt and I think having an IVA would be the best option for me, any recommendations. something needs to be sorted and quick due to my circumstances
If you have already been made bankrupt you will have to get that set aside to allow an IVA to proceed. I would suggest you have a chat asap with an IVA provider.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Foggy wrote:If you have already been made bankrupt you will have to get that set aside to allow an IVA to proceed. I would suggest you have a chat asap with an IVA provider.
Foggy wrote:If you have already been made bankrupt you will have to get that set aside to allow an IVA to proceed. I would suggest you have a chat asap with an IVA provider.
any recommendations
I am not allowed to make recommendations, but I would suggest a look around the forum where you will see a few posts made by representatives of firms who contribute freely to helping clients and non-clients alike and. of course there are also the forum sponsors (top right).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
can I go into an IVA after bankruptcy, will the creditors actually agree to this as they will probably think that bankruptcy will get them a better return. anyone I can speak to who can advise
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Unless you have a good lump of equity in a house or savings etc. then creditors will get nothing near the return from Bankruptcy than an IVA. You really need to speak with several IVA providers or your CAB. If you have already been made Bankrupt then that decision is already made, you can't opt out of BR by getting an IVA.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
Speak to an IVA provider who can help see if an IVA is an option with the your situation but as mentioned already, i would do this as soon as possible if you want to give yourself a chance.
i have been made bankrupt and have been to see the OR and this has been passed onto an external IP, can I go into an IVA after being made bankrupt as I think this may be the best option for me
It is also very expensive to get out of bankruptcy as the costs alone could be in excess of £10,000 already. Unless you have substantial assets then it may not be worth it as by now there will be the fees to the Trustee in Bankruptcy ]TiB], the Official Receivers [O.R.] and the petitioning creditor. I have seen these costs go in excess of £20,000 and unless they are paid the TiB and O.R may object to any IVA anyway.
I have dealt with probably in excess of a couple of hundred cases of this nature over the last 20 years, and, as Michael is fond of saying, the devil is in the detail.
You will not be able to annul the BR if the 12 months has elapsed and you have been discharged, but reading your posts, that seems unlikely. If an I.P. has only been appointed recently then those costs are likely to be at their lowest as yet, although they are preferential and can build up very quickly. It seems likely that you do have a property or other assets to protect so I would certainly not rule it out, and there are a number of factors that will make or break any IVA application, too many to list here.
If you want to send me a private message, you can find my details via the forum, then I will happily have a look at it for you, but that is down to you.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
