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amyc
Junior Member
113 Posts |
 Posted - 09 January 2010 : 16:02:14
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i thought we were finally on way to getting bankruptcy sorted until the morning of my birthday. I recieved a phone call from a debt collectors agency on behalf of capital one. wanting to set up a plan to pay off debt. i told them i was in an IVA thinking i was covered in the iva until 3 months had passed.. How wrong i was. Spoke to iva company wo said i was not covered at all because i wrote to them stating we were going to go bankrupt. A LETTER THAT THEY ASKED FOR. Not once was it mentioned that after sending this letter we would not be covered for the 3 months of missed payments. So i found myself in a right state, i phoned the bankruptcy helpline to get some much needed advice. they just informed that i need to go bankrupt as soon as possible, we have decided to use the rest of overdraft and go bankrupt at end of the month. I cant spend 2m more months saving when the bailiffs calls are already starting. I know we should not be using overdraft at all but we have no other way of getting the money. Sorry to winge just had to let it all out as they say   |
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amyc
Junior Member
113 Posts |
Posted - 09 January 2010 : 17:26:46
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| do you think we will refused because of this. just cant see any other way out? |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 09 January 2010 : 17:27:07
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| You will not be able to declare BR until the IVA has actually failed. Has your IP confirmed the IVA has failed? Normally it takes 3 missed payments but maybe with your letter saying you are intending to declare BR they have ended it early. You should check with your local court (http://www.hmcourts-service.gov.uk/HMCSCourtFinder/) as to their procedure with failed IVAs as some will want to see the certificate from your IP confirming the IVA has failed. |
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amyc
Junior Member
113 Posts |
Posted - 09 January 2010 : 17:32:39
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| we have both alreay recieved a letter from them stating our IVA has failed. so does this mean we can now go bankrupt? |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 09 January 2010 : 17:37:32
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Yes, contact your local court, via the link in my previous post, to find out the procedure for declaring BR. Some courts will tell you just to turn up on the day but with others you will need to make an appointment.
Don't worry about using your OD for the fees. You have tried your best to clear your debts with the IVA so this will be looked upon very favourably by the OR. |
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amyc
Junior Member
113 Posts |
Posted - 09 January 2010 : 17:45:15
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| we have also been paying back our paremts very small amounts of money over last couple of months. Once we are bankrupt they do not want us to pay back any of the money we owe them. Will the OR see this as a problem or question it. dont want our parents being dragged into any of it.q |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 09 January 2010 : 17:56:31
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You shouldn't mention the repayments that you have made to your parents to the OR. This would be seen as favouritism to one creditor and could cause big problems. If the OR found out about it they 'could' force your parents to pay them the money you have paid and distribute this to all creditors on a pro-rata basis. Creditor favouritism 'can' be one reason for a BRU.
If you want to continue paying your parents you would need to do it out of any DI (Disposable Income) you have after paying an IPA. |
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amyc
Junior Member
113 Posts |
Posted - 09 January 2010 : 17:59:34
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| thank you very much for your help. i will make sure i dont mention it, it was only £20 or £30 here and there so i will have to think of another reason why i was taking this money out. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 09 January 2010 : 19:50:56
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Hi Amy,
It was nice chatting to you on the phone yesterday. I really hope you get this all behind you soon so that you can have the fresh start you deserve.
Things will get better for you, hang in there. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 10 January 2010 : 11:13:18
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I echo that - you've had a rough time and hopefully 2010 will be a better year for you.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx |
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amyc
Junior Member
113 Posts |
Posted - 10 January 2010 : 11:34:07
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| Thank you all for your kind words. Going to start filling in forms tonight so sure I will be posting at some point tonight :) I am just going to try not to dwell on over draft. We are in it now and nothing we can do about it. I am prepared for a telling off. Hope you are all well x |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 10 January 2010 : 11:41:51
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Hi Amy
as per our phone calls some time ago I don't believe there is anything to worry about regarding the overdraft.
The OR knows you have to get the court fees from somewhere so nothing to worry about.
just make sure you have all the IVA termination letters and make the appointment at court. You then have a deadline to aim for.
Paul Johns
Bankruptcy Specialists
Reviva UK
www.revivauk.com
Real People ..... Real Debt Solutions |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 10 January 2010 : 12:42:52
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I'm sure you will be fine Amy.
Soon be able to put all this behind you.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx |
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birthday treat phone call
