can you make yourself bankrupt during your IVA?

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derekbrady

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Post by derekbrady » Tue Aug 17, 2010 12:56 pm
can you make yourself bankrupt during your IVA?
 
 

Shining

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Post by Shining » Tue Aug 17, 2010 12:59 pm
I think by missing 3 payments your IVA would fail and therefore you could declare bankruptcy.

Are you considering bankruptcy? Are you struggling withing your IVA? Have you spoken to your IP? Sorry for a barrage of questions x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

sjbyron

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Post by sjbyron » Tue Aug 17, 2010 2:57 pm
Hi

You can ask your IP to fail your IVA for you wihout waiting the 3 months, check the original chairmans report from the Creditor meeting when the IVA was setup and see whether any provisions have been put in place to fund your bankruptcy from the pot

Best of luck
Stu J Byron
 
 

kallis3

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Post by kallis3 » Tue Aug 17, 2010 10:59 pm
It will also depend on how long you have been in an IVA. The shorter the time, the less likely it is that you will have accrued enough money even if you do have that provision.

I don't think a lot of them do now.
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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