www.iva.co.uk

Posted: **Sat Dec 06, 2008 10:04 am**

i am in an iva can i still go bankrupt?

Posted: **Sat Dec 06, 2008 10:26 am**

Yes - but you will find it difficult to persuade a Court to make an order these days if the IVA is not in default.

Posted: **Sat Dec 06, 2008 12:19 pm**

i take it that if i didnt pay then this would class as defaulting.what would happen then?

Posted: **Sat Dec 06, 2008 1:35 pm**

Hi
After two/three missed months your IP should send you a breach notice and after this a failure notice.
Regards

Posted: **Sat Dec 06, 2008 2:24 pm**

And they may even be obliged to petition for your bankruptcy, if the terms of the IVA dictate this - although this is becoming rarer and rarer as time moves on in the personal insolvency world.

Posted: **Sun Dec 07, 2008 11:07 am**

can i just apply to bankrupt myself?

Posted: **Sun Dec 07, 2008 11:13 am**

Hi
Yes you can, just check with the court to find out if they will need proof of your failed IVA.
Regards

Posted: **Sun Dec 07, 2008 3:48 pm**

is it best to write or phone the court?

Posted: **Sun Dec 07, 2008 3:52 pm**

I would think you could phone just to check up.

To petition for your own br will cost you £495.

Posted: **Sun Dec 07, 2008 4:19 pm**

as i am in an iva can i stop this at any time?
do i inform my ip to what i am planning to do?

Posted: **Sun Dec 07, 2008 4:22 pm**

I believe you have to miss three payments, then you will be in breach and the iva will fail.

Unless one of the technical experts knows otherwise, it wouldn't hurt to inform your ip of your intentions.

I'm sure Melanie or Andy will be along to confirm or otherwise.

Posted: **Sun Dec 07, 2008 4:25 pm**

Yes - Kallis is correct. The IVA must be in default before you can present a petition these days, or you will have to produce a letter to the Court from your IP confirming that they have no objection to the bankruptcy application.

Posted: **Sun Dec 07, 2008 4:39 pm**

so if i just dont pay for the next 3 months i will defaut or i have the option to inform the ip and if they dont object then i can file for bankruptcy.

Posted: **Sun Dec 07, 2008 4:42 pm**

I don't know if the IP will fail you just on a phone call. You have to miss the three payments and wait for the failure notice. You can use the money you would have paid across to the IVA to fund your br payment.

Posted: **Sun Dec 07, 2008 5:45 pm**

Hi Peter,

I was with Payplan and split from hubby rang and explained that the IVA was no longer viable, I had missed one payment previously, I explained my intention of BR and they were fine, said she would pass it through to the relevant dept which would take about 6 weeks to get a failure letter out for Court, the court had a waiting list of around 7 weeks anyway, so timing was great.

Obvioulsy BR needs to be seriously considered and I think people tend to think its an easy option but you really do need to think it through first.

No offence intended. Good luck with whatever you do.