Sometimes an IVA just isn't the correct solution for your circumstances. Mine was mis-sold to me from Payplan. They were helpful but pushed for more and more monthly payments until eventually I knew I couldn't take anymore. The inflexibility of them and the ball ache I had when my partner became pre...

I was made bankrupt in June. I spoke to my OR and it was agreed that my IPA would be NT Tax Code only. I have only just received my change of tax code letter and it says I will be on an NT Tax Code for the tax year April 15 to April 16. It says in my next wage I should get a rebate. I have been send...

My IVA failed a few weeks ago. Now the creditor letters have started. I have been sent a intention to file a default letter. I am in the process of saving up the money to go bankrupt but it will be a few more weeks 8 I reckon before I have the money to pay for it. I know I can't ignore these letters...

I have read more into this and it is my IVA practitioner using scare tactics. The fact that I will be paying considerably less with an IPA seems to escape their attention.

Well Payplan, time to name and shame.

I have done a income and expenditure and I have worked out I have around £80 per month in surplus income. This SOA was done, as advised, with my partners credit commitments taken out of her share.

Something that wasn't done with the IVA. As the debts are all in my name. This is legal isn't it?

Got this email today... The Insolvency Practitioner has agreed that your IVA can be failed and the Failure process will now begin. As discussed I cannot give a timescale for this. "He has asked me to advise you that Creditors are likely to seek an income payments order to take money directly from yo...

What will happen if my IVA practitioner makes me bankrupt? Before I have a chance of declaring myself bankrupt. As discussed in previous threads I have no assets whatsoever. It has been agreed that I have no real beneficial interest in my wife's house. I don't own a car. Will the process still be th...

Thanks for that. Just need to raise the money to do it now. I have a meeting with a debt charity about my income and expenditure it looks like I will be paying more or less the same into my IPA than my IVA. But, of course with the IPA it is a far easier process to change. As it will when my wife goe...

I am cancelling my IVA, I informed Payplan of this last week, I asked them for a rough timescale of when I get my failure certificate. The reply I got is that they have to ensure that all the Information is correct on the Failure Notice before they can send it to me and my Creditors. They also have ...

I've tried other bankruptcy forums but I cant seem to find an answer. So I hope someone will be able to help. I am thinking of declaring myself bankrupt. I have £30,000 in unsecured debt. All in my name. I live with my partner and have done for 1 and a half years. The mortgage on the house is in he...

Can I be considered insolvent? I have a phone call tomorrow with one of the debt charities to help me file my bankruptcy claim. Regular posters will know my IVA failed because of the monthly payments. Both my wife and I are in regular employment. I just keep thinking this may hamper my attempts to g...

God you sound just like me. I'd be interested to read the replies. I entered into an IVA 7 months ago. I have now ended it and petitioning for Bankruptcy. If you live with your boyfriend some IVA companies work out your expenditure from combined incomes. In essence, what happened to me is that altho...

Many thanks for all your advice. I have taken advice from other sources and have contacted Payplan to ask them for guidance. But it does seem that petitioning for Bankruptcy does seem the best option given my circumstances.

I have thought long and hard about the implications of Bankruptcy and the inability to ever obtain credit again - but that what got me in this position. It's not my wife's fault and with the new baby on the way its time to make a fresh start.

Wish me luck!

Just made a few phone calls and no-one will talk unless my IVA has failed. Do I talk to Payplan to have it fail or skip payment for three months?