Hi everyone new member here. I have been in discussions with cccs about my financial problems for the past 3 months they have recommended an iva or bankrupcy. i am still to decide which. i am living with my wife and two chidren aged 9 and 7 in a housing asscociation. my wife has a car bought before we were married under maiden name worth about £3000 which i have use of and help to pay towards running costs could you kind people on here help me with the following questions. 1 can they take the car 2 is it true that child benefit is not included. 3 is it true that the allowances are more generous banckruptcy 4 how strict are they with receipts for the likes of child care phone bills etc. or will bank statments do. 5 when are the bankruptcy due before or just when i got my hearing. 6 how do i post my soa. thanks
seems wired that the cccs have recommended an IVA AND bankruptcy. What monthly contribution did the CCCS suggest you pay in an IVA?
answers are:-
1. If the car was purchased by your wife then it is hers, although you have use of it and have to declare the use on the form 2. Child benefit needs to be included on the forms but is not used for calculating an Income Payment Agreement 3. Some allowances are more generous in Bankruptcy while others ( SKY TV etc) are more generous in an IVA.
4. Provided you can demonstrate a real cost for child care rather than convenience then you will be OK. Phone allowances are generally £55 ish per month.
5. Bankruptcy occurs when you go to court and the judge declares you br.
6. you need to complete your SOA and your Br petition, book your court date and present the documents when you attend.
Which court would you attend, perhaps we can give you some guidance on the procedures at the local court.
bankrupcy v iva
Posted - 11 May 2009 : 19:20:56
