www.iva.co.uk

Hi all. Well I have a meeting with an enforcement of judgements officer tomorrow at my local courthouse. I am being asked to pay business rates on an empty retail unit as the lease had not finished when I left ( now stands at approx £38k). I'm so completely terrified, I've stopped paying my iva as I know I'm going to made bankrupt. 3 years wasted. I'm so scared I've cried the whole night

Hi Susan,

Remember what Michael said before, these people are usually pleasant to deal with. And they are probably used to seeing scared people.

They are not going to be angry with you or unfair. They have to be professional and act properly and they are just normal folks doing their job and they will be impartial and unbiased I'm sure.

Can you take someone with you as moral support?

Best of luck, we are rooting for you.

You will be surprised how nice the officers are. As Hubert says they are civil servants with a job to do and provide them with whatever information they ask. The likelihood is that they will be able to do nothing and Land & Property will then petition for your bankruptcy.

That would save you the cost.

Hope the words of Michael somewhat calms you, I can understand your anxiety and hope after the meeting you will feel much calmer. All the best xx

Thanks everyone I'll let you know how I get on x

Thinking of you tomorrow. Just think that you gave your best to resolve things and tried to clear it with an IVA ... be proud of that not everyone does or can!

I do hope your meeting goes as well as it can tomorrow.

Perhaps after this you can draw a line and start over without any worries

Well that meeting was completely painless!! The lady was very nice and understanding and said that land and property services can do nothing until the IVA fails, and even then they would not petition for bankruptcy. So looks like I will be self petitioning once I get certificate of closure in.

Glad it went well and I did say the Enforcement of Judgement Officers are very professional and sympathetic. However their title is frightening and I understand why you were concerned but at least if you ever have to go see them again it will be less of a worry.

Land & Property could still petition as it is a post IVA debt or you do it yourself.

Michael do you know if I petitin bankruotcy and I include the business lease in it, will I be absolved for the rates for the next 5 years, I mean would they be included in the bankruotcy even if the order only lasts a year? How can I find this out?

The lease would become an asset within the bankruptcy but the Official Receiver would disclaim it as it has no value. The lease would then revert back to the landlord and there would be no comeback on you. This is a power that a Trustee in Bankruptcy has that a Supervisor in an IVA does not.

I hope this makes sense.

Yes that makes sense Michael thanks. Don't fancy having to go bankrupt every year for next 5 years lol

Glad your meeting went well and things weren't as horrid as first envisaged. Hope it all goes smooth for you.