I was "led " into an IVA by one of the advertising companies, which straight away became obvious that I could not afford the repayments.I have now been advised to declare myself bankrupt , the only problem is it will take two or three months to get the £495 to get the process started . I have no tangeble assets but am just concerned about how long I can keep creditors at bay now they are aware tha IVA has failed.
Hi Colin, We are going BR at the end of August (thats when we will have the money to do it). We stopped paying creditors at the end of May, so all in all it will 3 months that we have fended them off. The timing is quite good actually as they are now starting to get quite nasty and threatening Attachment of Earnings and Charging Orders etc. By the time these were to be put into force, we should hopefully have become BR. I have not informed them of our intentions, just incase they try and speed thing up to get a least something from us.
how long can I keep creditors at bay ?
Posted - 16 July 2008 : 09:40:16
