| T O P I C R E V I E W |
| dawnlougib |
Posted - 08 January 2013 : 23:55:42
I have now missed 2 payments on my iva and have a date at the county court for my bankruptcy hearing.I have now found out that because i have a surplus left after all my expenditures that this can be taken to be paid to my creditors even though my sole income is benefits. What i wanted to know is what can i include in my expenditures. Can i include saving for holiday etc and also how can i calculate what my childrens disability allowence goes on when it changes and they have new groups etc starting after the court hearing. |
| 15 L A T E S T R E P L I E S (Newest First) |
| Niobe |
Posted - 09 January 2013 : 19:21:33
Dawn,
I have no idea what will happen as regards this. If you need to go BR then just tell the IVA company that you need to go br and want that letter sooner rather than later.
It doesn't matter how long you have to go - you want to go BR now! |
| dawnlougib |
Posted - 09 January 2013 : 18:21:35
I spoke to the court and i asked them out right if i could file for bankruptcy and they said that if i turned up at the court then they wouldn't turn me away for not having the termination letter, so i asked if that meant that i could go bankrupt and they said that they were not qualified to answer that and just that the office wouldnt turn me away without it so still non the wiser.Then i spoke to my iva company and i only have until march 2015 till iva is complete and they would look at my income and expenditure and see if could keep it going but i am worried that they will try to take my childrens disability allowance. They use it for all their clubs and care needs and little aside so they can have holiday. I am worried that they will say that they dont need to do that many clubs and that they want some of the money. |
| Viki.W |
Posted - 09 January 2013 : 18:07:06
Sounds like bankruptcy is the best option now Dawn. Let us know how you get on.
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 |
| Niobe |
Posted - 09 January 2013 : 17:41:28
If it is interlocking then they can separate it. It is only the payment that remains joint. |
| dawnlougib |
Posted - 09 January 2013 : 16:32:45
The iva is interlocking with my ex partner and they cant seperate it and i cant make the payments to keep it going and he wont continue to make his payments and hasnt since january |
| dawnlougib |
Posted - 09 January 2013 : 16:27:44
Spoke to iva company and they said will be in breach at end of feb. Spoke to the county court and they said that they wont turn me away if haven't got letter of termination. Iva company said when i asked about making myself bankrupt they said that it would be up to the court if i could go ahead with it whilst still in the iva |
| Viki.W |
Posted - 09 January 2013 : 15:51:05
Hi Dawn,
If you have only missed two payments and your IVA has not failed yet, then you won't be able to declare bankruptcy.
You may not need the letter of termination for the court, but you need the IVA to formally fail.
Speak to your insolvency practitioner and ask when this will happen.
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 |
| Niobe |
Posted - 09 January 2013 : 15:47:56
Just make doubly sure before you go.
I would have thought that the IVA company could have given you a termination letter before you go to court. |
| dawnlougib |
Posted - 09 January 2013 : 14:38:31
Just spoke to company dealing with iva and i asked them about it and they said it is down to the judge and the court. |
| Niobe |
Posted - 09 January 2013 : 14:14:32
If the court are happy then you should be ok. I know I've read of some on here who have been able to go BR without a termination letter but it may be worth getting one if you can just in case. |
| dawnlougib |
Posted - 09 January 2013 : 14:09:18
Have missed 2 payments so hasn't failed yet. |
| dawnlougib |
Posted - 09 January 2013 : 14:07:31
In 2 weeks time. |
| Niobe |
Posted - 09 January 2013 : 13:56:55
You may be ok Dawn - you could try asking your IP company to give you a letter just in case.
When is your court date? |
| dawnlougib |
Posted - 09 January 2013 : 13:54:56
Was told by the county court that they didn't need letter of termination. |
| Niobe |
Posted - 09 January 2013 : 13:54:22
Even if you have a surplus after the usual bills have been paid? |
