www.iva.co.uk

My IVA failed a few weeks ago. Now the creditor letters have started. I have been sent a intention to file a default letter. I am in the process of saving up the money to go bankrupt but it will be a few more weeks 8 I reckon before I have the money to pay for it.

I know I can't ignore these letters nor do I want a CCJ hanging over me. I know these are quashed in the bankruptcy but it's a bit more stress I don't need.

Should I contact the creditor and fill in the income and expenditure form they have provided and offer a token payment?

It seems unlikely they will make me bankrupt saving me the money and stress trying to save up for it. I have a file with stepchange and intend to ring them later also.

StepChange should be able to assist with the bankruptcy petition and the lead up. It can do no harm to co-operate with creditors in the meantime, but be guided by Stepchange.

I would just be honest - phone them and tell them you are saving to issue your own Bankruptcy Petition. I wouldn't bother to make any payments in the meantime but make sure you do follow through with Bankruptcy as soon as possible.

I aghree with Lisa that you should make no more payments. Ring the creditor up and advise them that you are saving up the costs of bankruptcy and are not in a position to pay any creditor anything. This should suffice for the creditor to put the file on hold but if not ask them to send you the money to speed the process up.

I doubt if they will...

Good luck in what must be a very stressful time for you.

Pointless paying a penny,add it to the BR fee pot.

Always amazes me that people with no money have to save up for months to make themselves BR!!

It just makes no sense.

Paul