IVA

[Floating]

Please can someone advise me if I can enter into an IVA when I live in Guernsey Channel Islands?

THanks

[Julie]

Hi - I'm not sure but I'll bump this up as Viki's busy at the mo .... stick around someone will advise soon x

[Viki.W]

Hey floating, welcome to the forum. I honestly don't know so please wait for Melanie to advise you. X

[Floating]

Hi, thanks for at least reading my post. I am terrified of what could happen to me. I just don't know what to do, I thought my debts were being dealt with as I went to a debt management company, but they have grown even more.

[Julie]

Please try not to panic, we've all been there. If you want to tell us a bit more about your situation, one of the experts will help you.
xx

[Viki.W]

Don't worry Floating, we're here for you and you will get some good advice and support here. Could you post a few more details, level of debt, list of creditors, any equity, your salary and disposable income after you've paid everything (don't include your debt management payment). It'll help the technical experts. Are your debts based in England? X

[Floating]

Hiya, thank you for your kind words of support. All but one debt is uk based, the local one is only here because a local advocate is collecting it. In total it is about £46000 to Metrapolitan Collections - HSBC, Babbe (local advocate), Triton, MBNA, Studio, Additions, Co-Op Visa. My take home is £1190pm and I have a car, worth maybe £2000, I am a private tennant. I think I could pay about £500 per month.

[Floating]

I am also wondering about bankruptcy in the uk, but I on't know how that would work when I don't live there. I am on my own with this and suffer badly with depression, which is getting worse. Can anyone tell me what help is available to me if I have to go to court, as I am not strong enough to do it alone.

[MelanieGiles]

Have you lived on the UK mainland at any time during the last three years?

[Viki.W]

Hey Floating, if bankruptcy was the best option for you and if you could do it in England (and we need the professionals on this one) then there are bankruptcy assist companies that will do everything for you for a fee. Paul Johns from Reviva posts on this site, I've met him, he's lovely and he has assisted a few forum members throughout the whole process......so if you feel that you need someone then there are people there.

The main thing is to get your original question answered and then if the answer is yes then you should speak to an insolvency practitioner to go over all your options. Hang in there and I'm sure someone more in the know will advise you. X

[Julie]

Floating, you're not on your own now you've found this forum. You need to discuss your options with experts. Now, I know that can be daunting, but thats where this forum helps. Melanie, Paul, Andy and Size5 to name a few, post on here and honestly they will advise you.

You've made the first step so well done, just stay with us xx

[Floating]

Hi Melanie, No I have been living in Guernsey for nearly 8 years.

Thanks

[MelanieGiles]

I think that you will find it difficult, as you have some debts in the UK and some in Guernsey. This would make it difficult to confirm that your Centre of Main Interests in solely in the UK, and would leave the debt in Guernsey potentially receiving preferential treatement if it is being paid at the moment. Why not just file for bankruptcy in Guernsey?

[Floating]

Hi Melanie, Bankruptcy does'nt exist in Guernsey, and I've been told by a few people that you can't do an IVA either. I have an appointment with CAB tomorrow morning, but I just need to know my options.

Thanks

[MelanieGiles]

It does - it is just called Desastre! This procedure works in a similar way to UK bankruptcy, and involves the use of assets to pay off creditors.

You may also be subject to a declaration of insolvency (“declaration de
faillite”). This procedure can lead to the discharge of your creditors(“le
benefice de la Renonciation”).

As I am not an expert in CI insolvency, you would be very wise to get some local professional assistance.