The first step! omg....

spenderblender

I think entering into an IVA is not worth the hassle in the long run.
I have just rang my local court and the lady was great. Said we have to take all paperwork in and money and it does on the same day and would I like to book in now?
I then explained that I am in an IVA when all changed, she said that I would have to speak with my IP as they would know more and that she couldn't comment on whether I needed the failure certificate or not.
How good is this? Now I feel like I am in limbo. DFD phoned me earlier asking why I hadn't paid my last payment - jan- and I said because I haven't got it. She said that although they were looking at renenwing my figures I still had to pay. She asked why I had missed the payment and I said that the maintainance money of 130 had stopped and she said well, you could have paid the other 160, what did you do with that?
On the one hand I want to delay going BR until March if poss because we won't have the money until then and on the other hand I want it done asap. DFD I don't think are going to be very helpful so I will just miss the next payment- feb - and then hopefully get a failure letter.

dalip

SB your IVA has to have failed before you can declare yourself bc. DFD are well known for witholding a certificate,which most courts/judges require.Dx

CJOR

spenderbender - I think you have to have had missed 3 payments (I am sure someone will correct me if I'm wrong!) on an IVA -

I was quite lucky (if that is the word!!) that Oct, Nov & Dec were scheduled non payments because I was on statutory maternity pay and they agreed to the 3 mths being made up on the end of the IVA, but now with me going part-time we just have no extra cash - As for paying for the BR we have to find the best part of £1,000 as both me & DH are going bankrupt - so I don't know how long it will be to save for this ....... I am having to rack my brains to find the money!!

dalip

CJ just a thought but could not the partner with the most debt go bc first. Dx

CJOR

I never thought of that! didn't know you could do that?? very interesting, in which case I think would be me! I shall have a word with DH

spenderblender

I wonder what they would say if I just told them I was going to go bankrupt and to send me the paperwork to complete. Do you think It would be best to just let it ride and ignore their calls?

hadenoughnow

CJOR wrote: »

I never thought of that! didn't know you could do that?? very interesting, in which case I think would be me! I shall have a word with DH

With regards to you wanting to wait until March, dont worry, save your BR fees by not paying the IVA at all. (assuming BR is a definate) that way your IVA will Fail, (yes you may get pestered, just fob them off) by the time they write to all your creditors telling them of the failure, you will be ready to go BR. My IVA failed In feb 08 it was only last week that i had one of the creditors start chasing me again! the other 20 odd creditors still havent! so thats the timescale you could be looking at. I just told my IVA company that i couldnt afford the payments, and i was looking at BR, at this point(JAN 08) i had missed 2 payments, they told me on the phone it had failed in that case.

dalip

CJOR wrote: »

I never thought of that! didn't know you could do that?? very interesting, in which case I think would be me! I shall have a word with DH

You do not have to both go bc at the same time,we have several posters who have gone bc and then their partners have followed several months later. Can i ask how much do you owe indivdually and have you got any joint debts?.

CJOR

off the top of my head we might only have one or two joint debts the rest is individual ones, haven't got my debt list to hand so don't really know i do know we owe about 55k between us.

CJOR

hadenoughnow wrote: »

With regards to you wanting to wait until March, dont worry, save your BR fees by not paying the IVA at all. (assuming BR is a definate) that way your IVA will Fail, (yes you may get pestered, just fob them off) by the time they write to all your creditors telling them of the failure, you will be ready to go BR. My IVA failed In feb 08 it was only last week that i had one of the creditors start chasing me again! the other 20 odd creditors still havent! so thats the timescale you could be looking at. I just told my IVA company that i couldnt afford the payments, and i was looking at BR, at this point(JAN 08) i had missed 2 payments, they told me on the phone it had failed in that case.

I think that was spenderbender ! not me.... thanks for the advice though you all are so helpful xx