| T O P I C R E V I E W |
| mark.ssxx |
Posted - 02 January 2010 : 18:08:09
Hello I am currently in a IVA (2YRS) and are considering BR. I do not want my employer involved would they be informed? I work for a college. Also would my name be pubvlished in local newspaper / London Gazette? I am paying £540 per month in the IVA. My total debts were £80k Personal debt ie credit cards / unsecured loans. |
| 9 L A T E S T R E P L I E S (Newest First) |
| mark.ssxx |
Posted - 02 January 2010 : 22:33:12
thanks for your help
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| In 2 Deep |
Posted - 02 January 2010 : 22:32:25
Hi Mark,
As many have stated speak with your IP before moving forward. If you want to avoid a NT tax code, then petition towards the end of Feb / early march. This then gives the OR no time to apply the NT tax code before the new financial year, and your HR department will know no different.
Gd luck.
Treat EVERY Penny as a prisoner. |
| debtinfo |
Posted - 02 January 2010 : 22:31:39
Less is paid in, but the costs are usually less as well, but in general a creditor will usually get more out of a completed IVA |
| mark.ssxx |
Posted - 02 January 2010 : 22:28:23
creditors get less with a br rather than my iva is that true too?
|
| debtinfo |
Posted - 02 January 2010 : 22:24:40
much like an IVA, income versus expenditure except you hand over 50-70% of any surplus and the fact that it goes up and down as your circumstances change automatically |
| mark.ssxx |
Posted - 02 January 2010 : 22:18:47
Thanks for feedback guys. What is a IPA? and how is it agreed or calculated please
|
| Daniel Griffiths |
Posted - 02 January 2010 : 20:14:10
It is worth talking first with your IP before going the bankruptcy route two years in with three years left, I presume you will likley have an IPA for the next three years following the granting of a bankruptcy order they may be lower payments than in the IVA but a word with your IP you may also be able to reduce payments to affordability, neither your IP or the creditors will want this failing, its a shame I think all you have paid in will have gone in fees if it fails now |
| Housing |
Posted - 02 January 2010 : 19:57:52
Hi
As debtinfo has said, very rarely now do the local press publish bankrupty cases - There used to be colum inches of them! Not now.
It will be the London Gazette and maybe Stubbs Gazette - but how many people do you know that subscribe to those periodicals!
It will be on the Insolvency website too - anyone can have access to that - I have to say, until I went BR myself, I had no interest in looking at that site - I do now though - but again a small population are that sad 
There are a small number of exemptions to being in the above journals - but the criteria is quite limited - are you in a "politically restricted" or sensitive job?
If not, then it is likely to be published - but again to end this area of discussion, who actually is likely to look? There, relax on that score
I am not a tax expert and there are a number of reasons for a Nil Tax code - your employer may or may not ask you to explain - will it make any difference if they know?
If you think it might, make a call to the HR department (anon or up front). Again, that should put your mind at ease.
Good luck to you, Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and hero of mine!!) |
| debtinfo |
Posted - 02 January 2010 : 18:41:13
First of all have you discussed it with your IVA supervisor if you are having problems, they may be able to help.
now to your direct questions
The OR may not inform them directly but they may be able to guess due to changes in your tax code and the OR would not hesitate to contact them if it was necessary
Bankruptcies are only rarely put in a local paper these days but are put in the london gazette as a matter of course |
