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David.85
Starting Member
6 Posts |
 Posted - 23 August 2011 : 11:19:56
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Hi,
I will try and be brief, any comment would be really apreciated.
After entering into an ill advised IVa, we have struggled.
Are now handing our house keys back(massive negative equity).
To cut a long story short we have some payday loans that we took out to get us throught(stupid i know)
We now are going bankrupt and want to include these but are worried about BRO.
Basically, will we be given one , if so any ideas for how long.
Will we get chance to explaIN OUR SITUATION or is it a blantant breach of the IVA.
Are there any other implications?
Many thanks
Mol |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 23 August 2011 : 12:24:13
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Hi David,
Did you approach your IVA company when you were struggling to see if the payments could be reduced, or if you needed a repair etc, a payment break? Did they refuse? Did you make them aware of the loans and seek a payment break to pay them off?
I wouldn't worry too much about a BRO. Yes, it's a breach of your IVA, but you are moving forward now and all the debts will be written off in your bankruptcy. If you get a BRO it just means you will be under the restrictions of bankruptcy for longer.
Good luck with the bankruptcy.
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/ |
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Hi, I will try and be brief, any comment would be really appreciated
