My IVA is due to fail very soon because I did not keep up the payments. I have been advised by many financial professionals to petition for my own BR.
I am now at the point where the nasty phone calls and letters are starting up again.
Should I write to all my creditors to advise them I am petitionign for my own bankruptcy? And if so, what terminology should I use in the letters. As in, how do I word such a thing?
I'm really confused as to what to do about holding them off until I go to court.
You can write to them and explain exactly what you are doing, however it may not stop the phone calls in the interim, as normally the creditors would require your Bankruptcy Number and OR's office dealing with your case before they stop completely.
I would arrange an appointment with the Court at the earliest date following which you will be able to afford to pay for the application, and just keep creditors informed as and when they call you. Even if you send them a letter now, their systems are unlikely to be updated before you are in Court.
What to say to creditors
Posted - 02 April 2008 : 17:55:59
