| T O P I C R E V I E W |
| abd |
Posted - 18 May 2008 : 20:53:05
Hi
I have tried an IVA proposal through an IP.My main creditor as I was told by my IP rejected the idea of IVA as they are awaiting an attachment of earning. How would I put it in the BR petition form
if there was no creditors meeting and I have no documents what so ever as a proof of IVA rejection.
Is my IP entitled to provide me with a written confirmation? or do I have to mention their details to the OR ,who would look for that?
Many thanks |
| 8 L A T E S T R E P L I E S (Newest First) |
| melanie_giles |
Posted - 20 May 2008 : 20:14:26
Yes - a bankruptcy order would stop an attachment of earnings order, whether it was made before the bankruptcy order or after.
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 |
| pix1 |
Posted - 20 May 2008 : 18:06:37
Just wondered, if a creditor is in the process of applying for an attachment to earnings would a bankruptcy order stop it in its tracks? Would the ATE go ahead and any income payments order run alongside it? would the ATE not go ahead but the IPO end up being for at least what the ATE would have been for? not sure if this makes any sense. |
| melanie_giles |
Posted - 19 May 2008 : 21:12:03
OK - there would have been no Chairman's Report in that case, so I would merely state the IP's name who advised you at the time.
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 |
| abd |
Posted - 19 May 2008 : 20:24:53
Hi everbody
many thanks again, yes this was the creditor with 75% of the debt, and them saying no to IVA will actually mean no IVA.So my Ip saw no point in convening a creditors meeting.
thanks Vicki for the support,wish you all the best my self.
Abd |
| m and v |
Posted - 19 May 2008 : 06:15:04
Hi Abd
I know creditors have every right to be paid what is theirs but when they choose to make you go BR and then end up getting so much less, or nothing at all, it seems a strange outcome.
Do creditors think that pushing someone into BR is like a punishment?
BR is not an easy choice Abd, but at least it will give you the chance to sort your finances out and not be paying in every spare penny to an IVA.
I was in an IVA for two years and in that time paid in enough to cover the IPs fees - my creditors didn't get a penny.
Hope it works out ok for you!
Vicki x |
| Reviva UK |
Posted - 18 May 2008 : 23:25:16
Hi abd
I am not clear as to whether you had an IVA proposed and rejected by your creditors or whether when your IP discussed the situation with the main creditors - NHS Trust - decided against proposing an IVA because the trust said they wouldn't agree to a proposal. As they had a major percentage of the debt and were likely to vote then they would be needed to agree otherwise he IVA would not suceed.
In terms of the Br paperwork you should put in that you attempted an IVA with X company but were advised that it was not possible because the major creditor had advised them that they were going to vote against the proposal.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
| melanie_giles |
Posted - 18 May 2008 : 23:10:39
Your IP should have provided you, by law, with a copy of the Chairman's Report detailing the procedures and voting at the creditors meeting. As a matter of interest was this creditor owed more than 25% of your overall debts?
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 |
| JulianDonnelly |
Posted - 18 May 2008 : 22:56:36
Hi abd,
I would just put down the details of your IP and the name of the firm detailing that it was rejected at proposal stage.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
