We have decided to go BR & have been in an IVA since 30th March 2007. We have missed 4 payments due to cost of living going up & thought that as we'd missed 3 payments that we had failed the IVA,when we spoke to our IVA company they told us it would be put on the end. We received a response from them today confirming that they have completed their administration enclosing a copy for our information of the circular they have sent to our creditors terminating the IVA's & confirming that the IVA have failed & a certificate of non compliance issued.
We have almost completed the online BR forms & as we have stopped the payments for the IVA now have the money to pay for petioning for BR x 2 Me & my partner. They will be holding a meeting of creditors under paragraph 5 of the debtors proposals to decide how the IVA's are to proceed. this meeting will be held on 1st April 2009.
I have not been at work since NOV 20th due to stress at work & depression (on full pay till end of April)I am not sure when I will be returning to work
Are we best in waiting to petition for BR until after this meeting?
The key thing here is that you will need to evidence to the Bankruptcy Clerk & judge that the IVA has indeed failed.
Some courts are not interested, others will be happy with the documents you have and others will require a full notice of termination before you can petition.
you are better off ringing the court, speaking to the clerk and asking them what they need.
We have decided to go BR & have been in an IVA sin
Posted - 19 February 2009 : 20:51:33
