Can I go bankrupt ?

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Post by jan.65 » Mon Aug 30, 2010 6:41 pm
i am currently in an iva agreement but cannot pay it and am on a 6 month break due to being on the sick after a major op. I am about to get divorced from my husband and will not be able to pay the iva. can i go bankcrupt?


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Post by kallis3 » Mon Aug 30, 2010 6:45 pm
Hi Jan and welcome to the forum. Sorry to hear about your problems and I hope that you are recovering from your operation.

You can go bankrupt if you wish. As you're on a payment break I would speak to your IP and it may be they can help you.

Do you have any assets that might be at risk from bankruptcy?
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.


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Post by Julie » Mon Aug 30, 2010 6:51 pm
Hi Jan, hope you're recovering well from your op - how long have you been in the IVA?

As Kallis says, speak to your IP - they may be able to reduce the payments.

If you do decide BR is the route you take, you'll be able to get lots of advice and support on here.


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Post by MelanieGiles » Mon Aug 30, 2010 7:12 pm
If you feel that there is no future in your IVA there is nothing to stop you applying for bankruptcy, but you may need your IP to provide you with a Certificate of Termination in order that this can be produced to Court.
Regards, Melanie Giles, Insolvency Practitioner
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