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 If you are in an IVA can you apply for bankruptcy?
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cpharo
New Member

United Kingdom
58 Posts

Posted - 27 July 2009 :  19:54:16  Show Profile  Reply with Quote
If you are in an IVA can you apply for bankruptcy? If you default on your IVA becuase you want to apply for bakruptcy do you have to pay the bankruptcy costs or will the creditors make you bankrupt.

Niobe
Administrator



United Kingdom
4590 Posts

Posted - 27 July 2009 :  19:57:18  Show Profile  Reply with Quote
Hi,

You will have to let your IVA fail and by doing this, you can save up the money for your BR fees.

Unless it is written into your IVA proposal that if funds are available they will pay for your BR, you will have to fund it yourself as it is unlikely that the creditors will do it.

The glimmer gets brighter all the time

Jan
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