the battle begins!!!

mommypig

hi after posting the other day ,i hav thought about the bankruptcy and gained advice from others including the possibilty of being made bankrupt by a creditorie the halifax who we owe 50,000 approx,informed it was unlikely as why would they pay 1500 to the courts when we nothing to give them !!! we surrendered our house in sept 08 and they sold it as a loss in jan o9. th battle i face however is not with he creditors,they are yet to start the chase ,as the iva does not fail for 3 weeks, the battle is with my hubby who is refusing to pay stating(and he is right )that we do not have the money,we cannot loan off family,and hav looked at the charites ie b gas ,water suppliers and we are not eligible.any advice and support would be gratefully recieved

sieve

If your IVA fails you will normally find that your IVA company makes you bankrupt themselves which will save you the £500 bankruptcy fee. Problem solved

mickyc_3

is this true! that would be good news for me and my OH as we will both have to go BR but the IVA is in both our names and surely that would mean that the IVA company would make both of us BR saving us a hefty outlay.

We're off to the C.A.B today with our SOA so I'll put it to them and se what they think and post when we return

mommypig

sadly this is not an option for us as we had hardly payed anything into the iva as hubby got made redundent and we cut the iva down ,but yes if you hav payed into an iva for some time it is possble for the insolvency practioner to use some of what you have paid in to the iva to pay for bankruptcy.

mickyc_3

we've paid ours for about a year so I wonder how long you need to be paying it... I'll check the paperwork they sent with the initial bumff,

thanks

mommypig

good luck ,if you hav been paying the full amount, do not see why they cant do it ,you will hav to ask ur ip if he will be able to make u bankrupt