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T O P I C R E V I E W
glynis.b
Posted - 26 May 2008 : 21:46:47 i already have an iva at the moment, if we decide to go bankrupt do we have to use the company we have the iva with?
4 L A T E S T R E P L I E S (Newest First)
JulianDonnelly
Posted - 29 May 2008 : 10:29:33 Hi Glynis.b and welcome to the forum.
As IPs are licensed to act in the best interest of your creditors, handling a BR can be seen as a conflict of interest. Therefore, it would be best to utlise the services of a bankruptcy speclialist firm. Both Paul Johns and Brett England excell in this area.
Posted - 26 May 2008 : 22:25:12 Your IP will only want to take on the Trusteeship of your bankruptcy if you have assets which can be realised for the benefit of creditors. In non-asset cases the OR will act as Trustee.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
Reviva UK
Posted - 26 May 2008 : 22:15:10 Hi glynis.b
How long have you been in your IVA and why are you considering Br.
If you have had a material change in circumstances that mean that the IVA is no longer possible it would be good to speak to the IP first.
depending upon how long you have been in the IVA, and how much you have contributed it may be the responsibility of the IVA company ( as set out in your iVA proposal) to make you Br.
It is worth describing the situation here so that we can give you some more advice.
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com
Viki.W
Posted - 26 May 2008 : 21:51:27 Hey glynis, welcome to the forum. An expert will be along shortly to help. Has your IVA actually failed yet? Viki X
