HOME  FORUM  MEDIA  EVENTS  ARTICLES  TV  BLOGS
•Home
Bankruptcy:
•Bankruptcy Information Center
•What is Bankruptcy?
•Is Bankruptcy right for me?

•How to declare Bankruptcy?
•What happens to my assets?
•Bankruptcy and credit rating

Forum:
•forum
•register
•search
•faq
•experts

Blogs:
•Bankruptcy News
•More...

Media Room:
•Press releases
•Media Coverage

Other:
•About BankruptcyHelp
•Links
•Contact us
•Debt Glossary
•Insolvency jobs


FORUM
  > Browse and post on our forum
Home   |   Profile   |   Register   |   Active Topics   |   Members   |   Search   |   FAQ

Welcome to our Forum, please register if you want to post

 All Forums
 archive
 Forum Questions
 Will IVA be declared as breached?

Note: You must be registered in order to post a reply.
To register, click here. Registration is FREE!

Screensize:
UserName:
Password:
Format Mode:
Format: BoldItalicizedUnderlineStrikethrough Align LeftCenteredAlign Right Horizontal Rule Insert HyperlinkInsert EmailInsert Image Insert CodeInsert QuoteInsert List
   
Message:

* HTML is OFF
* Forum Code is ON
Smilies
Smile [:)] Big Smile [:D] Cool [8D] Blush [:I]
Tongue [:P] Evil [):] Wink [;)] Clown [:o)]
Black Eye [B)] Eight Ball [8] Frown [:(] Shy [8)]
Shocked [:0] Angry [:(!] Dead [xx(] Sleepy [|)]
Kisses [:X] Approve [^] Disapprove [V] Question [?]

 
Check here to subscribe to this topic.
   

T O P I C    R E V I E W
Matt.99 Posted - 02 January 2011 : 12:27:27
I'm in an IVA but I've taken out pay day loans to keep going and I'm struggling to pay those back. I know I need to declare these loans to the IP, so will they declare the IVA as breached forcing me into bankruptcy?
4   L A T E S T    R E P L I E S    (Newest First)
debtinfo Posted - 03 January 2011 : 11:31:23
It is likely that the IVA will be breached as it seems you would be unable to rectify the situation with that amount of extra debt, before deciding what to do next you need to understand why you needed to take credit out, ie were you unable to live on the budget set or did a completely one off event happen

Speak to your IP and decide what to do next
Matt.99 Posted - 03 January 2011 : 11:22:52
Hi Debt Info, I have 4 pay day loans totalling £4k.

Viki.W Posted - 02 January 2011 : 14:26:32
Hi Matt,

It might not mean that your IVA will fail, but you need to speak to your IP first thing Tuesday.

They may allow you a payment break to repay the loans, and you should go through your I&E again to make sure the IVA is affordable.

I know it's too late, but if you need money for emergencies, then always contact your IP as they can arrange payment breaks. Don't use credit.

Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
debtinfo Posted - 02 January 2011 : 13:43:21
how much are we talking about

bankruptcyhelp.org.uk Forum © bankruptcyhelp Go To Top Of Page
Powered By: Snitz Forums 2000 Version 3.4.06