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Posted: Tue Jun 10, 2014 9:20 pm
by Chris.r
i took an IVA with Wilson and Phillips (2007) which then changed to Grant Thornton. I was single living at home with my mother and in 2010 after reading about being miss sold IVAs i decided to stop paying my IVA hoping they would make me bankrupt as i had no assets as i lived at home. I've had no letters from Grant Thornton asking for money in 4 years. I would like some advice on whether they can now ask for anything after 4 years.
Posted: Tue Jun 10, 2014 10:06 pm
by canaries
At this stage do not contact any creditors or GT, wait for advice around your debts, you could look on the insolvancy register to see whether you are on it or not. Just google Insolvancy register uk and do a name search.
Someone will be along to answer in due course they are excellent on this website.
Posted: Wed Jun 11, 2014 8:31 am
by Adam Davies
Hi and welcome
It is unlikely your creditors will petition for your bankruptcy given the costs involved and the fact that you have no assets
Check the online insolvency register and check the status of your IVA
If it has failed then you could consider your own bankruptcy petition
Regards
Posted: Wed Jun 11, 2014 1:30 pm
by size5
Such a shame that you didn't stick with it, presumably you would have been debt free by 2012, and with a clean slate, credit file wise, by now.
Instead, it is likely that you are still liable for a large part of the debt that you originally had whilst having to work out 7 years later how to deal with it. The mis-sold element could, with acceptedly the benefit of hindsight, more accurately be a description of whatever article/internet opinion that influenced you to abandon a perfectly legitimate debt solution.
Regards.