| T O P I C R E V I E W |
| Barry.ll |
Posted - 03 September 2011 : 10:15:39
I am likely to file for bankruptcy within the next year. Prior to this can I repay a loan to my wife without this being considered by the OR? |
| 10 L A T E S T R E P L I E S (Newest First) |
| Viki.W |
Posted - 04 September 2011 : 19:14:00
Hi Barry,
Any of the experts including myself are available to chat and I'm sure there will be a solution.
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/ |
| Barry.ll |
Posted - 04 September 2011 : 10:22:28
Thanks Vicki, I'm beginning to get the hang of this now!!
My situation is a bit complex and i wonder if you could assist?
Barry
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| Viki.W |
Posted - 03 September 2011 : 16:26:36
Hi Barry,
Click on "experts" on the left hand side of this page.
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/ |
| Barry.ll |
Posted - 03 September 2011 : 14:58:51
Hi Richard,
Thanks for that advice. How do I find/mail experts on this site. Sorry to so basic but I'm just finding my way.
Regards,
Barry
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| Richard P |
Posted - 03 September 2011 : 14:24:47
HI Barry
it is unlikely that your creditors will file for your bankruptcy as it costs them lots of money to do so, you may still have that expense.
Barry I dont know your circumstances but from what you have typed someone is "advising you" but taking you on the long path .
For your peice of mind contact or email one of the experts on this forum, ask them to explain the process for IVA, Bankruptcy and F&F
Good Luck Richard,
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| Barry.ll |
Posted - 03 September 2011 : 13:43:11
I am entering IVA based upon the sale of a house in full and final settlement. Problem is that house sale has just fallen through which means I have 6 months to sell to satisfy the IVA. I presume that if it doesn't sell in this time the creditors will file for bankruptcy?
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| Niobe |
Posted - 03 September 2011 : 13:38:55
If you entering into an iva then the loan from your wife has to be included and she will receive a dividend the same as the other creditors will.
I am also curious as to why you are taking this step if you are going declare be in the near future
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| debtinfo |
Posted - 03 September 2011 : 13:07:44
you are insolvent if you have more debts than assets or if you have more that is due to be paid each month than you have income. Since you are thinking about IVA's and bankruptcy then it is very likely that you are insolvent right now.
If you are entering an IVA you should be telling them about all debts including ones to family members.
Finally why are you entering an IVA if you are thinking about going into bnkruptcy within a year |
| Barry.ll |
Posted - 03 September 2011 : 12:54:40
I am not currently insolvent but I am due to start an IVA. Does this mean that I can't repay the loan once IVA has started?
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| debtinfo |
Posted - 03 September 2011 : 11:45:46
no in a word, presuming that you are already insolvent |
