I have been on an iva for 4 years (because of an ex partner) another debt has been brought to my attention for buisness rates from 2008 over £7000 apparently the debt is mine as my ex partner Owes £7000 as well i have bailiffs knocking on the back door and in the back garden which is really stressing me out. I have rang my iva company to see if i can get this debt included in my iva they are arranging a meeting with the creditors to see if they approve of it being included because of the size of the debt the iva company have told me my contributions will have to rise if they accept the debt it seems to be taking to long and thinking of going bankrupt but im not sure
I wouldn't make any decision until you have your creditors meeting and see what the terms are. It could be that you can pay over a longer term to keep the payments to a more affordable level.
You would have to pay an IPA for 3 years in bankruptcy, so try and stick with the IVA if you can.
Thanks for the info also i have rung the baillif company who is dealing with this and they have said they can still pursue this debt any day dont want them coming back to my home
paul
quote:Originally posted by reggers
I have been on an iva for 4 years (because of an ex partner) another debt has been brought to my attention for buisness rates from 2008 over £7000 apparently the debt is mine as my ex partner Owes £7000 as well i have bailiffs knocking on the back door and in the back garden which is really stressing me out. I have rang my iva company to see if i can get this debt included in my iva they are arranging a meeting with the creditors to see if they approve of it being included because of the size of the debt the iva company have told me my contributions will have to rise if they accept the debt it seems to be taking to long and thinking of going bankrupt but im not sure
I agree with Viki that you should set up a creditor meeting straight away to see if this can be included. It would be a shame for the IVA to fail now.
If it's included then they cannot pursue you anymore. You don't have to answer the door to the bailiffs and make sure that all your doors and windows are locked so they cannot get in.
Did you explain that you were in an IVA and were looking to get this debt included?
Follow through Make your dreams come true Don't give up the fight You will be alright 'Cause there's no one like you in the universe
bankruptcy help
Posted - 30 May 2012 : 12:59:46
