Bankruptcy and option

Get expert opinion. This is the place for new questions to be posted.
10 posts Page 1 of 1
 
 

1964alison

User avatar
Posts: 31
Joined: Tue Jun 15, 2010 5:14 pm
Location:

Post by 1964alison » Fri Sep 24, 2010 3:12 pm
I am definitely going down the BR route, if only to say "serves you right" to my creditors who refused my IVA!!! My question is however can BR be refused if I say I dont want to do a DMP? Also as I have a joint BASIC bank account with my husband (with no credit facilities) that we opened when I applied for the IVA and have no joint debts. How realistic is it that the OR will not freeze our account. I am worried that if they do and we need to open up a new account that there are no options left to us as all other banks are somewhere linked to one of my creditors!! maybe this would swing the ORs decision not to freeze it??? Or do you think my husband would be able to move the account to a single account. I want to start the ball rolling asap but am so scared incase I haven't noticed a pitfall somewhere. Thank you all for your help so far.
 
 

Adam Davies

User avatar
Posts: 14596
Joined: Thu Mar 29, 2007 12:21 pm
Location:

Post by Adam Davies » Fri Sep 24, 2010 3:27 pm
Hi
Nothing to stop you declaring bankruptcy following your IVA rejection.
Your account will be frozen but only for a short time.
Good luck
Regards
Andam Davies
 
 

kallis3

User avatar
Forum Expert
Posts: 76934
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri Sep 24, 2010 5:11 pm
I hope it works out for you Alison.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Broke of London

User avatar
Posts: 7761
Joined: Sun Sep 05, 2010 6:04 pm
Location: United Kingdom

Post by Broke of London » Fri Sep 24, 2010 7:23 pm
Sorry to hear about the IVA and hope the bankruptcy goes well x
 
 

back on track

User avatar
Posts: 1085
Joined: Mon Mar 16, 2009 5:05 pm
Location: United Kingdom

Post by back on track » Sat Sep 25, 2010 11:01 am
cant for the life of me see the sense in refusing an iva proposal only for the debtor to then go bankrupt and the creditor get virtulaly nothing.
and they say we were stupid for geeting into debt.
all i can say is the people in charge at nr are a bit thick when it comes to doing the maths.
if there pay was related to how much money they can recoup then i think things would be done differently.
good luck alison and just out of curiosity let us know what nr say when you tell them the good news[:)]
cc received 6th January 2014 now upwards and onwards
 
 

1964alison

User avatar
Posts: 31
Joined: Tue Jun 15, 2010 5:14 pm
Location:

Post by 1964alison » Mon Sep 27, 2010 10:12 am
ha ha. yes I certainly will. Thnaks "back on track" you made me laugh :)
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:

Post by MelanieGiles » Mon Sep 27, 2010 8:49 pm
It is not an automatic right to have a bankruptcy order made - this is at the discretion of the Judge, and whilst it is quite rare to see them refuse to make an Order, I have seen this happen in the past.

My gut feel is that the Judge will sympathise with the fact that your creditors have turned down a good offer of repayment, and wish you well on your way - after stamping your application with confirmation of the Order. Let us know how you get on.
Regards, Melanie Giles, Insolvency Practitioner
 
 

Skippy

User avatar
Posts: 20720
Joined: Sat Oct 21, 2006 6:08 pm
Location: United Kingdom

Post by Skippy » Mon Sep 27, 2010 8:52 pm
I'm sorry to hear about your IVA, and good luck with your BR x
 
 

kallis3

User avatar
Forum Expert
Posts: 76934
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Mon Sep 27, 2010 8:56 pm
Good luck Alison, any questions just ask away and let us know how things are going.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

MRBLUESKY

User avatar
Posts: 2870
Joined: Tue Jun 02, 2009 11:04 am
Location: United Kingdom

Post by MRBLUESKY » Mon Sep 27, 2010 9:04 pm
good look alison i,m sure you will be ok.
10 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”