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T O P I C R E V I E W
gary45
Posted - 07 December 2009 : 16:25:05 I have been in an Iva for 18 months and i am in the process of going bankruptcy because i have missed the last two payments how much more complicated is it to go bankrupt whilst in an Iva?
2 L A T E S T R E P L I E S (Newest First)
Hallway123
Posted - 08 December 2009 : 06:05:49 Gary I was in an iva for 2years before I had to let it fail(you do this by missing 3 payments and then asking for a letter saying that your IP has no objections to you going BR).BR for me was the best thing I could have done,the OR interview was probably easier and quicker because the debts were all at least 2 years old,when I saw the judge he said it was obvious I had tried every way possible to sort my debts.I got no ipa and was discharged after only 5 months,so for the first time in at least 15years I have no debt at all,happy days.
Melanie.n
Posted - 07 December 2009 : 17:02:24 First off sorry to hear that your IVA has failed - in the first instance you nedd to speak with your IP - your IVA has to have fully 'failed' and a 'certificate of failure' issued by the IP to enable you to file for bankruptcy. Other than tha, it is no different than if the only solution you have sought was bankruptcy when you first had difficulties.
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
