Confused about bankruptcy....

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Toonster

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Post by Toonster » Fri Jul 13, 2007 1:26 pm
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Im thinking about going bankrupt after losing my job 12 months into my IVA, the IVA didnt leave me with enough money to live and now its worse that im unemployed. Is there any help i can get with paying bankruptcy fees as im currently in the process of claiming job seekers allowance?
Also do you still have to pay monthly contributions whilst being bankrupt, i dont quite understand it. HELP!!!

Kerrie x
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Adam Davies

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Post by Adam Davies » Fri Jul 13, 2007 2:06 pm
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Kerrie
You can stop paying into your IVA at anytime and if you are definitely going bankrupt there is no point in paying anymore.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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scaredkez

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Post by scaredkez » Fri Jul 13, 2007 3:11 pm
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kerrie you have to pay the fees yourself, which are currently £485, £150 of this is court fees which will be waived if you are on benefits/ unemployed, also if you are still in receipt of these when you see the OR then you will not be set an IPA which is the monthly disposable income they collect off you if you have any.
good luck
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/
Please view my blog at: http://scaredkez.blogs.iva.co.uk/
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Flowers2221

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Post by Flowers2221 » Mon Jul 16, 2007 7:47 pm
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How long do I have between ending the IVA and applying for BR? My IVA is joint with my husband and I simply don't have £485 x 2 to pay?

thanks!
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pm.e

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Post by pm.e » Mon Jul 16, 2007 9:13 pm
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Hi,

Check your terms and conditions of your IVA.

I think your IP can make you bankrupt if the IVA is in default.

To make this happen dont pay your IVA, and your IP will make you both bankrupt if you are in a joint IVA.

Hope this helps
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MelanieGiles

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Post by MelanieGiles » Mon Jul 16, 2007 9:23 pm
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If you are going to make yourself bankrupt, and pay the fee, you can do this straight away without waiting any longer. Make sure that you keep your IP informed though.

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
Regards, Melanie Giles, Insolvency Practitioner
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