Hi how long take proces for bancrupcy or iva ?

[mje]

Hi how long take proces for bancrupcy or iva ?

[coco]

Hi and welcome to the forum,

An IVA is upto 5 years some people have finished their IVA early eg 3 years with a remortgage etc. (The setting up process takes approx. 12 weeks maybe longer)

and

BR you are automatically discharged after 12 months however you could pay an IPA /IPO for upto 3 years depending on your circumstances. (To file for BR depends on your court as to whether you need an appointment or not then you see or speak to the OR mine took upto 4 weeks others a week again this depends on your area)

(I apologise for my keyboards poor spelling and grammar)
http://coco.blogs.iva.co.uk

[jamesfalla]

Hi there.

Do you mean how long does it take to get into an IVA or Bankrutpcy once you have started the process or how long does the solution last once you are in it?

James Falla

Expert in IVA, Bankruptcy and informal Debt Management solutions for over 10 years.

For more information visit www.jamesfalla.com and visit my blog at: http://jamesfalla.blogs.iva.co.uk

[MelanieGiles]

An IVA will take a good month to set up - but I have done them in 24 hours if necessary, and I also have cases which have taken over a year to put together (for very good reasons I must add!). So there is no finate timescale, just one of good practice on the part of your insolvency practitioner.

Bankruptcy proceedings can be fairly immediate, but will depend upon the timing of your local Court's listing, so best to check with the bankruptcy clerk at the Court to see what sort of backlog they are running at.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk