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hannah.1782
Starting Member
1 Posts |
 Posted - 04 May 2011 : 21:22:31
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here goes, me and my hubby have been in a iva for 3 years, everything goin ok until a few months ago when my hubby lost his job unexpectedly (long story) creditors meeting was called on 28th april and in the next few weeks we should have the failure notice - scared!
hubby has managed to get another job eventually but on a much lower salary we have sought advise and been told bancruptcy is our only option mow, we havve massive debts of 150000!
now for the questions, is bancruptcy still advertised in the local paper?
how long after the meeting should we get our failure notice and how long before the creditors start chasin us again?
one more question i am curently workin full time but am strugglin with the stress of all this and am thinkin of perhaps reducin my hours to part time, will that cause me problems with the official receiver the fact that i have reduced my hours prior to declaring bancruptcy?
so many questions!
thank you, this is a
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 04 May 2011 : 21:45:48
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Sorry to hear about your hubby losing his job and that the IVA will fail.
As to BR, it is unlikely to be advefrtised in the paper, it's down to the particular OR and I've not heard of any recently.
As soon as the IVA fails then you can expect the creditors to start calling again.
I don't think that you need worry about reducing your hours.
You will need to save £700 per person to file for bankruptcy after 1st of June.
The forum is always here for help and support.
Double, double toil and trouble;
Fire burn, and cauldron bubble.
Jan
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bancruptcy and scared
