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kentmikey
New Member
61 Posts |
 Posted - 07 April 2011 : 21:17:01
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I emailed the National Debtline for additional information regarding going bankrupt and received the following emai
We can see from your e mail that you are waiting for a failure notice from your IVA provider and that you would like information regarding Bankruptcy.
As an IVA is a legally binding agreement, if it is broken you can be made bankrupt. This would save you from paying the fees yourself. You will need to speak to your Insolvency Practitioner and see what they intend to do prior to making yourself bankrupt.
So I am right in understanding that Blair Endersby can make me and my Wife bankrupt rather than us doing it ourselves?
Mike |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 07 April 2011 : 21:24:42
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It's highly unlikely Mikey unless there is something in your proposal which states that money will be put aside if your IVA fails.
Bear in mind as well that BE are in the process of being taken over by Grant Thornton so I've no idea what will happen.
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
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kentmikey
New Member
61 Posts |
Posted - 08 April 2011 : 07:47:56
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Hi Kallis
Thank you for your reply. I did not know BE were being taken over, do you know what impact this will have on me, if any?
Mike |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 08 April 2011 : 07:59:49
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It shouldn't have any impact as it just means that all of BE's clients will move across to Grant Thornton.
In the transitional period I'd try getting hold of BE in the first instance, if not then got to GT.
Did you read through your proposal? Is there anything in there?
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
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kentmikey
New Member
61 Posts |
Posted - 09 April 2011 : 18:01:18
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| Going to go through it tomorrow and see if there is anything there. I am still in the quandry of the money I owe my Father so brain seems to be taking a beating at the moment.... |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 09 April 2011 : 19:13:47
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Your father will have to be included in BR. Does he know of your situation?
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
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kentmikey
New Member
61 Posts |
Posted - 09 April 2011 : 22:15:35
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| No he does not and to be honest I don't really want him to know. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 10 April 2011 : 07:53:38
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As suggested on the sister forum - is there any chance you could do a DMP until your father has been paid back?
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
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kentmikey
New Member
61 Posts |
Posted - 10 April 2011 : 21:47:45
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Could I do a DMP after the IVA has failed? I have emailed my manager of the IVA to see if it could be restarted so I am waiting a reply on that.
Mikey |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 11 April 2011 : 06:38:43
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There is nothing to stop you from doing a DMP - it may help you get yourself sorted out. At least you will have some breathing space.
Let us know what the IP says.
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
xx |
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kentmikey
New Member
61 Posts |
Posted - 11 April 2011 : 18:33:47
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I been advised the IVA will fail and it is too late to revert it. Blair advised that I should contact CAB who would be in touch with a DMP company.
Mike |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 11 April 2011 : 18:40:30
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Hi Mikey,
I don't think you will be able to keep your dad out of bankruptcy - he is a creditor and will have to be included as such.
Could you possibly come clean with him? Otherwise a DMP might be an idea whilst you pay him back.
Have a word with CAB or any company who post on here and take some further advice.
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
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