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vincent.ma
Starting Member
1 Posts |
 Posted - 03 January 2010 : 15:34:57
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hi ..please could someone advise me ...
i,m in a iva at the minute , have been one yr .. i,m self employed ..i,m struggling to keep payments up asked ip could lower payment and been told creditors would accept the only option is to take 6 mounths holiday break ...
i,ve looked at my income and exspeniture and relise i can not survive in iva much longer ...think bankruptcy is only option now.
my morgage is 141 interest only i, m not able to sell due to unfinished building work which i do not have and cash to finish off
when entering iva i was told to get a valuation on the house which was 180 which i very high due to condition of house ..
i,ve found out i should have had valuation on forced sale ..is this correct
could someone advise please and maybe talk me through bankruptcy ... |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 03 January 2010 : 17:17:27
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The property valuation should be a 'quick sale' valuation as this is the figure the OR would use. You should contact the CCCS, National Debtline or CAB to talk through your situation. Alternatively you can contact either of the companies below:
Reviva UK: http://www.revivauk.com/
Jones Giles - http://www.jonesgiles.co.uk/
These two companies post on this forum and are very highly recommended. They will not charge you for an initial chat and will only charge if you need their assistance if you decide to declare BR. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 04 January 2010 : 21:06:27
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Hi Vincent
The actual process of bankruptcy can be quite simple, the difficult bit is the planning and arranging of your personal situation before going to court.
Consideration needs to be given to pensions, cars, house and savings, I needed the guidance of Paul and ken at Reviva but others have been able to complete on their own depends how complex your case is ?
In most cases you apply to the local court for an appointment, turn up at the local court with the correct number of copies of the paperwork(again varies court to court) pay the cash. Occasionally see the district judge. Bankruptcy order is then ratified. Wait a few days and then you will have some form of contact with the local Official receiver.
House valuation on quick sale
Regards Richard
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hi ..please could someone advise me ...
