Hi guys i am after a bit of advice on what to do next. I have 32000 debts and back in november 96 entered into an iva with debt matters. after paying this for 12 months i recieved a letter saying that the iva had been transferred to payplan. ( reason unknown). My debts were made up of stupid spending and gambling ( i know i am an idiot). I made 1 payment to payplan back in january 2008. Then my cicumstances became worse with my partner suffering a breakdown and having to quit work and i had to go self employed so i could be at home as much as possible with her. i know i should of informed my ip but being me like i always do i buried my head in the sand and didnt hear anything till jauary of this year when payplan did there annual review and reccomended my iva was going to fail. Yesterday i finally recieved the supervisors report and my iva has now been cancelled due to non payment. i have work at the moment but this will end in may/june this year. Please can somebody out there help me as to what to do or who to contact next. Any response would be much appreciated. I just want this all sorted so i can plan for a future. Thanks
if your IVA has failed your IP should issue you with a Certificate of Failure which you will need to present to the court along with your debtor's petition if you declare bankruptcy.
With your work ending in may / june of this year it would appear bankruptcy is your only remaining solution as all other avenues require you to have an income.
Thanks John At the moment i just have the final report from the ip which shows what i owe to each creditor. Do i just wait till this certificate is issued before anything else can be done. Who is best to contact from now on,. Thanks. Wish i had gone bankrupt in the first place as i paid 4500 into iva and my creditors recieved 0.
I am no expert but you can do the BR yourself It might sort things out quicker. Forms can be filled in online and then printed off -take to Court. I was amazed and relieved at how sympathetic and professional everyone was. I had gone through the sense of failure ,shame,sleepless nights etc. When I thanked the Clerk he said it was not about name,shame and blame but about solutions and a fresh start for people to sort themsleves out. You do have to stump up the £ 500 fees though, whereas if you wait for the IVA or a creditor to do it then I think but may be wrong that they pay Good luck. It was such a relief this week when I got the order but a bit to go now with sorting out the paperwork.
help needed.
Posted - 02 April 2009 : 07:11:18
