www.iva.co.uk

Hi everyone, well my IVA got rejected today at the adjournement by NR again -I did my best so did my IP and I will be filing for bankruptcy and I have come to terms with doing that - thanks to this forum I must add. i just wanted to know, I have been so foccussed on my IVA for the last few months, how do I best start the process for bancruptcy, is it via the CAB or direct to the local court -any advice appreciated , thanks

As u read this Im filling the online paperwork in !
Not sure if Im going to do it but thought I would do the paperwork anyway as I already have the details to hand.
see
www.insolvencydirect.gov.uk

good luck
Mish

many thanks Mish, good luck with the forms - I wthink i will also make an appointment with the CAB aswell

cheers

Hello
So sorry to hear that your IVA attemps were unsuccessful.
Best of luck with bankruptcy.
Blue

sorry to hear that NR wouldnt change their mind. as you know mine was rejected on monday by NR at the moment im undecided in what im goin to do but my IP wants me to do a DMP for a few months and then try again for IVA,but at the moment im back to square one writing to my creditors,sending token payments etc i feel so fed up!

Guys

The on-line forms are so simple, you really do not need the CAB. Take a copy of your IVA proposal, and all of the information you need can be tranposed into the forms. Give it a go I think you will be pleasantly suprised at the process, and give your local Court a call to see how quickly you can get a hearing date.

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

Hello All,

Westonr - Sorry to hear that your IVA was not accepted the second time round. As Mish has already mentioned you can complete the application for bankruptcy online.

However I do believe you will have to give your local court a ring to book an appoint and make the payment of c£480. Usually how quickly your bankruptcy is accepted depends on how busy your local court is.

Jue - Sorry to hear your IVA got rejected, just remember there is a solution to every debt problem.

Best Regards. IVA Experts

MELANIE

my IVA was rejected by NR coz one of the loans i have with them is only 12 months old so they said unsufficient funds have been paid.my question is if my partner could pay this loan in full for me (its for 4k) would my second attempt in IVA be more sucessful as my other loan i have with NR is over 3 years old and took out over 7 years?

sorry just another question, if you have payment protection on your credit cards can you cancel this?

Hi jue

There is nothing to stop a third party paying off one of your debts - that is entirely up to them and would not constitute a preference. But your IP would be wise to bounce this off NR initially to avoid wasting anyone's time. And for the other creditors it would mean a higher dividend. Has your creditors meeting been adjourned for 14 days? If so get your IP to make that revised offer right now.

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

no it asnt been adjourned my IP just said go into a DMP for a few months and then try again so am i right in thinking its too late now and to just wait a few months like my IP said? my partner only told me yesterday that he would pay this loan off for me

I really don't know why IPs are not taking advantage of the 14 day adjournment period to see if a revised offer could be made. I always do this, and it can sometimes be suprising what throws up over this period, such as offers of finance from family members, or simple renegotiated deals with creditors. Now you may have to unecessarily start the whole process all over again. You can represent the proposals tomorrow, but I fear credibility has been lost here, and creditors really hate to have to go through represented proposals. See if your IP has sent out the Chairman's Report yet, as it may be possible to backtrack on the adjourment.

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

Got the ball rolling everyone - called my local court they are sending the paperwork to me for bancruptcy and say there is about a week and half waiting list for appointment, - I am seeing the CAB next wednesday just to clarify some points - it looks like it may all be dealt within the next few weeks, how quick is that - and I feel fine about it so far, thanks everyone for your kind words and I will keep you updated

weston will be thinking about you, we done our forms on line, you register and can go back as many times as you want to edit etc, good luck, it really isn't as bad as you think, you have tried your best, the BR itself is over very quickly, its the OR's meeting that takes longer, I had a face to face for over 2 hours but they were very nice, they don't interrogate you they want the facts to see why you have ended up in this position, all the best.
kerri

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

Thanks Kerri, thats reassuring to know. The process for BR appears to be much simpler and quicker than IVA - I could have my appointment in a few weeks whereas it took nearly 3 months to get the creditors meeting.