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| T O P I C R E V I E W |
| priti |
Posted - 19 May 2008 : 18:18:49
i have failed my iva, i have misse 2 payments, am i able to petition for bankruptcy sooner than the three months, i am getting conflicting answers from my iva company which is clearstart.
i want to do my bankruptcy process next month, but they are saying i can't and that i have to wait until my iva is fully failed and i then have to wait to get some forms signed of by the ip.
i'm soo confused can someone help me??? |
| 5 L A T E S T R E P L I E S (Newest First) |
| m and v |
Posted - 19 May 2008 : 21:27:39
Hi Priti - I missed payments in Jan and Feb. In Feb I got a letter saying I had defaulted and had until 10th March to pay. I missed March's payment and had another default letter saying I had to pay the three missing months and April's payment by 10th April!
At this point I had already decided to go BR and had a court date for the 18th April.
I didn't know I needed "proof" my IVA had failed until I came onto this forum and didn't actually ask Clearstart for it til a couple of days before my court date. It arrived the day before -they were really ok about sending it. They did say they normally have creditors meeting and then send out a formal letter but as I had a court date booked and had missed 3 payments they were happy to send a letter out.
I would tell Clearstart you have decided to go BR and what date you are at court.
It was a huge relief to me once I had decided to go BR and put my IVA behind me.
Vicki x |
| melanie_giles |
Posted - 19 May 2008 : 21:14:17
There is actually no legal requirement for the IVA to have failed to enable you to apply for bankrutpcy, although I am being told that District Judges are asking for this more and more - but can't say I've seen it personally. If I were you I would apply in any case, at worst the Judge will ask for an adjourment to enable you to produce evidence of failure if they deem it necessary.
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 |
| priti |
Posted - 19 May 2008 : 20:45:12
hi vicki, how soon after the iva failed did you get ur letter that ur iva had failed, i just don't want the creditors to start calling me again!! |
| Helpful Advice |
Posted - 19 May 2008 : 20:02:00
Hi Priti,
Vicki is correct your IVA has to have failed prior to your declaring yourself Bankrupt and in your case this would be after three missed payments.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
| m and v |
Posted - 19 May 2008 : 19:58:03
Hi Priti - I have just petitioned my own BR after missing three months payments with Clearstart. I used money from the missed payments to pay court costs.
Clearstart gave me a simple one sentence letter saying they considered my IVA had defaulted through missed payments and that they were happy for me to petition my own BR. Mike Reeves did this for me and I took it to court with me. (It's about the only good thing Clearstart did for me!)
My creditors didn't meet - that would have delayed things by weeks.
The judge did ask to see this letter so it's worth getting something from them.
Hope this helps.
Vicki x |
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