Transfer of Supervisor & Bankruptcy Query

[may07]

Hi

I wondered if someone could tell me if this is normal? My IVA was approved in 2006. At the first review my supervisor transferred the appointment to another firm which are chartered accountants. The odd thing is both my old supervisor's firm and my new supervisor's firm have the same business address and I was told to keep paying money into the original supervisor's account. Does this sound regular?

Secondly, at the debate on Friday I learned that if you go bankrupt you make payments for 3 years. So my question is...if an IVA fails say in its 3rd, fourth, or even final year and bankruptcy becomes the only option would you make payments after say 4 years for a furrher 3 years so 7 years in total?
Thanks
May

[Adam Davies]

Hi
Yes you would May
Regards

[may07]

WOW!!!! Thats quite an eyeopener.............whoever said bankruptcy was the easier option sure got that wrong. So in essence one could be in debt for years and years and years ..................sheesh!
Thanks for replying Andy.

Its all a minefield1

Does anyone know the answer to my other question regarding the supervisor?

Thanks
May

[MelanieGiles]

May - I remember speaking to you about this at the debtate, but could you remind me of the names of both IP firms please.

[may07]

Hi Melanie,

Yes it was good to meet you on Friday!

The original IP was Mackenzie Goldberg Johnson and the one they transfered it to on the first anniversary of approval is J Simon Westhead & Associates. But as I say they both have the same postal address and I am still paying into the original account.

Thanks.
May

[MelanieGiles]

I suspect that they are associated companies but my knowledge of the insolvency firms in the North West is limited to the larger practices. Ian Millington is more likely to know the answer to this one, but has will hopefully be around later - Ian??

[may07]

Thank you Melanie.

I would be interested to hear Ian's view on this.

Id also like to say a huge Thank You to Melanie, Andie, Ian and all the experts who no doubt have extremely busy and at times stressful professional lives and yet give so much of their "free time" to help, advise and support those of us who are going through this scary and worrying experience.

It's very much appreciated!!

Bless you!

May

[MelanieGiles]

It is our pleasure May, and I am sure that Ian will be around later to share any local knowledge he has with you.

[Adam Davies]

Hi
Thanks May
Regards

[may07]

Its nothing but the truth Andy ( sorry I spelt it wrong up there - think I was thinking davie).

Youre throught your IVA Andy but still give so much of your time to help others.

That wasnt a learning curve you went through, more Class A Honours in kindness!

May