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bearsndogs
New Member
51 Posts |
 Posted - 20 September 2011 : 12:05:25
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This is just a random question and I'm probably clutching at straws anyway!
I just wonder if it is possible to arrange for an IVA with the assistance of a debt counselling service, even though I've already been made bankrupt, or is it a case of "shutting the stable door after the horse has bolted"?
Thanks.
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 20 September 2011 : 13:19:51
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It is possible to propose an IVA post bankruptcy - butit will depend on your assets/income/debts situation. In the first instance if your bankruptcy has gone ahead speak to your OR and ask them if an IVA could be considered
Melanie Nicholas CertDR
30 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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bearsndogs
New Member
51 Posts |
Posted - 20 September 2011 : 15:27:44
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I was made bankrupt a while back and a Trustee was appointed. I'm trying to prevent my house from being sold - sorry HOME - and if anything at all can be done to stop this, it has to be considered. I'm the bankrupt, not my husband. I've tried various other possibilities, but no-one is prepared to help us. Why is it that some people get all the help they can, but mine just a continual brick wall. I think I must live behind an "iron" curtain!!
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debtinfo
forum expert
2826 Posts |
Posted - 20 September 2011 : 18:05:14
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perhaps yu are not asking the right people or the right questions,
Few questions,
how much are your debts
how much can you afford to pay into a possible IVA each month.
how much equity is there in the property (and how much is yours)
Have you spoken to an Insolvency practitioner or a solicitor that specialises in insolvency.
have you told the OR that you wish to get an annulment (cancel the bankruptcy) if you did they would probably send you this leaflet
http://www.bis.gov.uk/insolvency/Publications
(the can my bankruptcy be cancelled one) |
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bearsndogs
New Member
51 Posts |
Posted - 22 September 2011 : 11:22:35
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I think you might be right about not asking the right people - I think I've asked the right questions. I went to the CAB and, to be honest, they were about as helpful as a chocolate fireguard!!
So far as the debt itself is concerned, it probably isn't very much in the great scheme of things, but it now seems that the Trustee's fees are likely to be more than the actual debt. I actually have no idea why a Trustee was appointed; I was just advised by the OR that one would be and obviously, I thought that this was just usual procedure. However, as always with these things, I've discovered that this does not necessarily happen.
I have now looked at the Insolvency Publication link you very kindly provided, and it certainly looks as if it would be a good idea to try and seek the services of an Insolvency Practitioner. I just don't want to lose my home and if anything can be done to prevent that, I guess it's worth a try. Whether, in reality, they can help is, of course, another matter.
I would add that shortly after the bankruptcy occurred, I received a number of letters from various organisations saying they could help and I did contact one of them, but in the end, they were as "good" as the CAB.
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 24 September 2011 : 14:36:38
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you will find a lot of ambulance chasers, yes we can get ur BR annulled, yes we are brilliant but they cant actually deliver.
speak to experts with track records (tab to left) I am currently fighting the trustees for two (discharged)bankrupts over property issues. One we are making great head way the other, well you dont really wont me to type about.
But it comes back to the same point gather your advice before the day happens and get your ducks in order it is easier to plan ahead than act defensively. ONce the court day has arrived you have passed control to a third party.
(edited after posting)I will clarify they came to me for help after they had declared BR, one is 6 years after his bankruptcy
Good Luck Richard,
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Edited by - Richard P on 24 September 2011 14:44:05 |
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I think I may be just going round in circles!
