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 bankruptcy postbag for april
 Will the bankruptcy be fairer

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m and v Posted - 04 April 2008 : 09:30:19
I have a failing IVA. Over the last two years I have had to use my husband's bank account to pay in my wages. Should I open a sole account for my wages now before I go bankrupt? Will the OR want to see my husbands bank account statements for the last 12 months? All the debt in the IVA is mine. My husband has his own debts that are not included the IVA, although they used his income. Will the bankruptcy be fairer and based just on me and my debts/income? Hope you can help.
15   L A T E S T    R E P L I E S    (Newest First)
m and v Posted - 07 April 2008 : 13:05:58
Thank you all for your replies. Thank you Brett for your advice this morning. I will keep you updated and am sure there will be more questions along the way.
JulianDonnelly Posted - 07 April 2008 : 08:50:47
Hi M and V,

I have answered your other post

All the best,

Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
m and v Posted - 07 April 2008 : 07:45:16
Ok - I have printed out the forms and am spending today on them. I am ringing the court later to see if I need an appointment. Do I just need the two forms? Would it help if I took paperwork for my IVA? Will I need anything else? Fingers crossed everyone - today is the start of BR!
Skippy Posted - 06 April 2008 : 19:59:49
Don't get me wrong, I would have loved someone to fill out the forms for me but I didn't have the money to pay for it.

My meeting with the OR wasn't anywhere near as bad as I thought it would be. She was very efficient and professional - not friendly, but not unfriendly either, if that makes sense! I had a telephone interview which lasted just over 20 minutes. I was asked how I'd got into debt and what the money had been spent on, went through my income and expenditure and that was about it.

All the dealings I've had with the OR's office have been positive and any questions I've had have been dealt with quickly and efficiently.

Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
m and v Posted - 06 April 2008 : 17:56:42
I am beginning to think I can do this on my own. I think its easy to appear vulnerable and when someone offers to do all the paperwork for you and to fend off your IVA provider it seemed too good to be true. It has really helped having your input. Skippy13 - what was your meeting with the OR like?
Skippy Posted - 06 April 2008 : 14:35:51
If you really think that BR is the best thing for you please don't pay anyone to 'hold your hand' through the process - £1050 is a lot of money, and I presume that doesn't include the BR fees of £495? I petitioned for my own BR - I completed the forms online, and while they are long winded, I would certainly have begrudged paying over £1k!

Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
melanie_giles Posted - 06 April 2008 : 13:17:14
If you go bankrupt your name and your address will be listed in the newspaper advertisement. What are this company actually doing for you for the £1,050 fee they ar charging you? And do you really feel that you were mis-sold an IVA, or was it a choice you made from your own free will?

For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
m and v Posted - 06 April 2008 : 08:55:55
...... they also said my name but not my address would appear in the bankruptcy listings in our local paper? Is this right?
m and v Posted - 06 April 2008 : 08:29:43
I have been looking around the forum and notice the IVA council have ropped up. i have been contacted by them and Bankruptcy UK who they work with. They say I have been mis-sold my IVA (in rented accomodation and no assets). They are offering to "handle" my bankruptcy, fend off the company my IVA is with, and include my case in a group of cases going to a QC/high court. Yes, they do want £1050 over 4 months. To someone in my position this seemed like a lifeline - now I don't know. Any thoughts? Should I just do it on my own and go to the court on Monday - decclare myself bankrupt before my creditors do!
melanie_giles Posted - 06 April 2008 : 02:24:26
Why oh why do they recommend bankruptcy, where your creditors will get absolutely nothing repaid?

For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
m and v Posted - 05 April 2008 : 20:08:06
Thank you all so much for your replies. My IVA is with Clearstart and they at first seemed to be the answer to our problems. Now it feels like they are making failure a certainty. I have spoken to my IVA supervisor - he too "recommends" bankruptcy. After two years I have paid enough in to cover their charges!!
Helpful Advice Posted - 05 April 2008 : 19:14:24
I am in agreement with Melanie, hopefully Bankruptcy will give you the fresh start you need and with the advice Julian has given I believe you will be in a much better position, however as Melanie mentions it is always worth trying to speak to your IP direct to see if there is anything that can be done as you are two years into the IVA and it is always a shame to go that far and still end up in Bankruptcy.

I hope this helps.


Kind Regards,

Brett England


Bankruptcy Specialist

England,Jackman & Spacey

WebSite www.ejands.co.uk


View my personal story & blogs at:

http://brettengland.blogs.bankruptcyhelp.org.uk/
melanie_giles Posted - 04 April 2008 : 23:42:15
How ridiculous that your IP is prepared to see a perfectly good IVA fail due to the unreasonable increase he/she has forced you to consider. It never ceases to amaze me that this sort of thing happens, and I bet this is not with the knowledge or sanction of your IP personally. Which firm are you with and have you tried to talk to the IP to get it from the horse's mouth?
Skippy Posted - 04 April 2008 : 16:53:21
Although I'm not married I live with my partner. When I went BR last year (failed IVA) the OR wasn't interested in how much my partner earned, just how much he contributed to the household.

Providing you need your car for work you shouldn't have too much of a problem keeping it. I could justify keeping mine as I wouldn't have been able to get to work on time.

To echo Julian, I would recommend the Co-op Cashminder. I have this account and it's excellent.

Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
JulianDonnelly Posted - 04 April 2008 : 15:14:50
Hi,

Yes you will be allowed to keep vehicles valued less than £2500 and as your husband is not going Bankrupt his will not form part of the bankruptcy proceedings.


Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk

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