| T O P I C R E V I E W |
| Geena |
Posted - 25 February 2011 : 13:29:21
hi, we now have the failed iva notice and we still have not received my husbands severance pay to fund bankruptcy costs. when creditors contact us will it be enough to say we are filing for bankruptcy and stand firm or is it best to find the money from someone else to fund bannkruptcy costs. it is just that if we file now and the severance pay comes before we are dischraged then the monies will go to the receiver (they are due within a month). also can you tell me if put on payment plan and we get a lump sum along the way does the receiver take this too? thanks for any help. really worried about the creditors calling now |
| 15 L A T E S T R E P L I E S (Newest First) |
| Viki.W |
Posted - 14 March 2011 : 08:58:15
Hi Geena,
I would put all the debts down and the OR will write to them to confirm.
Good luck.
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/ |
| Niobe |
Posted - 12 March 2011 : 22:26:50
Bumping this back up Geena,
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
xx |
| Geena |
Posted - 12 March 2011 : 09:15:02
Hi all, my husbands severance pay has finally come so he's going br on tues. I still have not had my failure notice from my iva manager even though I have emailed and phoned and asked for the iva to be failed. Cannot understand that one. Apparently I have been told off the record by a junior clerk that some debts on my iva are no longer mine and so they are having to sort it out as they are "no proven amount" on my iva. Anyhow does anyone know what no proven amount means and do I have to put this on my br forms . Some debts I have monies down next to my iva manager has "no proven amount". Really confusing. Some debts also seem to have jumped off my list of creditors onto my husbands and therefore onto his br form, although they were joint debts they no longer seem to be on my iva. This is what I have been told over the phone. Thanks for any help. Starting to stress me out now :/
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| Geena |
Posted - 03 March 2011 : 15:13:52
Thanks for the last reply. Its sorted a new job out for my husband. I went to court and was told they need the failure notice. My husbands had come mine had not. My supervisor has only just told me via email on asking where my notice was that my iva has not failed yet as they have around 2 months monies in returned funds from some creditors (don't understand that one) . Anyhow I now have to wait and go to court again when my iva fails. Wish I was told the right information sooner instead of being told it had failed weeks ago .
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| debtinfo |
Posted - 27 February 2011 : 23:38:31
Yes he can be self employed but there are soe restrictions |
| Geena |
Posted - 27 February 2011 : 14:29:44
Thanks for the help...do you know if my husband can set up as a sole trader before being discharged after going br? Just another option for work for him after severance pay and the br petition. Also if he is allowed to set up as a sole trader after the petition for br , but before being discharged does he just inform the receiver and provide income and expenditure of his business?
Just planning the next steps work wise :) be prepared and that :)
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| Niobe |
Posted - 27 February 2011 : 11:42:50
Your hubby will be chased for the full amount until he goes bankrupt unfortunately.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx |
| Geena |
Posted - 27 February 2011 : 11:26:16
Hi, thanks all clear now. A learning curve I guess...not one I had anticipated in life though :/ thanks for all. That's me all ready :)
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| debtinfo |
Posted - 27 February 2011 : 11:08:21
You dont get put on an IPA for specific debts, you simply pay the OR, IT bares no connection with the amount or split of the debt, You simply pay if you have the ability to |
| Geena |
Posted - 27 February 2011 : 11:02:39
Hi, what happens if I am put on ipa for both debts? Will my husband still be chased for all or the full amount or none? Can't quite understand this bit lol! Thanks for any help again
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| Skippy |
Posted - 27 February 2011 : 10:24:50
Great minds Jan!
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
| Skippy |
Posted - 27 February 2011 : 10:24:22
I would imagine that you may get chased by all the companies unfortunately. They do have six years, but once you are BR you no longer owe them anything, and therefore if they chase you you can tell them where to go!
You need to put the full amount of the joint debts on your forms as you are jointly and severably liable for the full amount - once you are BR your husband is liable for the full amount until he goes BR.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
| Niobe |
Posted - 27 February 2011 : 10:23:42
Hi Geena,
You will probably get chased by all creditors, doesn't matter whether they voted for your IVA or not. All debts have to be put down on the form.
I don't know about how you put things on the form although I would have thought that as you are both jointly and severally liable for the joint debts that you put them down in full on the form.
Hopefully one of the experts will be along to advise further.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx |
| Geena |
Posted - 27 February 2011 : 10:19:12
Thank you for all your messages of support. My husband has a question. He says that the ip provider says only 3 people voted and therefore we may only get chased by these 3 companies. However the 3 companies concerned are the major debts we have totalling 100k or over between us. Our ip said they have 6 years to chase these debts. Is this true? Also do we have to split the debts we hare on the br form? ( Do I put 33k of the 66k northern rock debt or all of it on my form) just finalising the form for tomorrow :)
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| glafy |
Posted - 26 February 2011 : 07:53:39
Good Luck to you both from me too Geena.
You really will be fine. It's the unknown of going to court that is most nerve wracking but it will be over & done before you realise.
Let us know how things go.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
