| Author |
 Topic  |
|
kentmikey
New Member
61 Posts |
 Posted - 04 April 2011 : 07:47:51
|
I am due to go BR and currently waiting for the IVA company to issue the failure notice. In the meantime I am trying to get organised with with what I need to do and to complete etc.
Obviously I am aware tha both my Wife and I need to complete the forms and together with the costs hand this into the court. Is it from this day that we are classified BR?
We currently rent, have no assets whatsoever so I do not have the stress of not having a roof over us. Would the courts contact my landlord? We have never missed a rent payment.
The debts included in the IVA will go into the BR pot. We have some additional debts which I assume can be added as well:
Council tax arrears (previous years)
Credit cards
Utility arrears with British Gas and EON (no longer my suppliers)
My Wife also has a couple of catalogues, possibly three, but these are in her Son's name, can this be added without causing a black mark against her Son?
Thanks for any help, it is all very much appreciated at this stressful time.
Mikey |
|
|
Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 04 April 2011 : 08:19:13
|
As soon as your application is approved at the court then you are bankrupt.
The utilities etc will go in but the catalogues won't if they are in her sons name as the debts will be down as his.
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
xx |
 |
|
|
Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 04 April 2011 : 19:52:51
|
Hi
I notice that you mention credit cards as an additional debt to the IVA.
If these were excluded from the IVA or were taken out or used after the IVA started you would be advised to prepare for a grilling from the OR.
One of the key areas of having an IVA is that all debt is included so please spend some time to prepare your explanation so it is easier for the OR to understand why you have used them .
thanks
Paul
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
|
|
|
kentmikey
New Member
61 Posts |
Posted - 04 April 2011 : 19:57:52
|
I had not thought of that Paul thank you for eyes up, I did apply for the cards due to the amount of trouble I was getting with the car and to be honest half heartedly applied for them not realistically thinking I would be approved i.e existing IVA but they were. I will prepare for this with the OR.
Thanks once again. |
|
|
|
Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 04 April 2011 : 20:14:25
|
preparation is everything.
Always go over every aspect of how a third party will view your actions and the history over the last 3 years. Then prepare the answers for that.
Also don't use emotion in the interview, answer the question concisely.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
|
|
|
Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 04 April 2011 : 20:34:17
|
The best advice I was given regarding the OR interview was to be honest, just answer what was asked, and if I didn't know an answer, be honest.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
|
|
|
Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 04 April 2011 : 22:22:20
|
much easier to be honest as it is always easier to remember what you said.
Still be brief as it will get you through the process faster.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
|
|
|
kentmikey
New Member
61 Posts |
Posted - 05 April 2011 : 19:15:52
|
sound advice thank you.
I assume when I first go to court to hand in the forms and fees that is all I initially need to hand in? |
|
|
|
Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 05 April 2011 : 19:19:23
|
Yes, I think that's all you need.
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
xx |
|
|
|
Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 05 April 2011 : 21:19:47
|
Yes, that's all you need to take. It's worth checking with the court how many copies of the forms you need
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
|
|
|
kentmikey
New Member
61 Posts |
Posted - 06 April 2011 : 07:44:30
|
Thank you, so in my understanding, once I have submitted my forms and fee I am then officially declared a Bankrupt. After this, the next process is the meeting with the OR (in person or over the telephone), what documentation do I need for this?
Also, I have had a letter from the IVA company advising they have called a meeting later this money due to more than three months payments being missed, I assume from this meeting a failure notice will be issed? I have emailed the IVA company to confirm this, and also in my understanding, once I have received this failure notice is when I can approach the courts?
Always thankful for your help and advice.
Mikey |
|
|
|
Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 06 April 2011 : 08:34:46
|
Hi Mikey,
If everything is ok, then the judge will declare you bankrupt the same day.
The OR meeting may be on the phone or face to face.
It may take some time to get the failure certificate from your IVA company, phone the court and ask their procedure.
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/ |
|
|
|
Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 06 April 2011 : 08:47:54
|
Once you receive the failure certificate then you can make an appointment at court.
The official receiver is likely to ask you for 12 months statements for creditors & bank accounts, documentation for car, house ( mortgage or tenancy agreement, IVA proposal, pay slips etc etc etc. They will need full documentation so they can understand the history prior to your decision to petition.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
08454 751 851
Real People ..... Real Debt Solutions |
|
|
|
Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 06 April 2011 : 10:26:26
|
If you're in an IVA though you won't have any statements for creditors will you? How do you get round that?
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
xx |
|
|
|
Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 06 April 2011 : 11:06:10
|
I'd kept copies of everything I sent to my IP so I sent those to the OR and explained the situation. They can get any statements from the creditors so don't worry.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
|
|
|
Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 06 April 2011 : 11:12:46
|
I kept nothing - once the IVA was approved it was a mass shredding!
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
xx |
|
|
|
Topic |
|
Procedure of going BR
