IVA to Bankruptcy???

fermi

P0kerFace wrote: »

I'd love to but i have no idea what an SOA is. I've only just realized what BR is and am still working on OR lol

OR = Official Reciever.

SOA = Statement of Affairs. List of income/expenditure, debts and assets basically.

This link will help you post one if need be:

http://www.makesenseofcards.com/soacalc.html

JCS1

P0kerFace wrote: »

I'd love to but i have no idea what an SOA is. I've only just realized what BR is and am still working on OR lol

Check this sticky from the top of the page, should help you (and think there is also a glossar of terms).

http://forums.moneysavingexpert.com/showthread.html?t=1056083

OR = Official Received
SOA = Statement of Affairs.

foulplay13

P0kerFace wrote: »

Im currently on an IVA but want to go bankrupt is that possible or am i locked into the IVA?

Well I'm in a IVA, just told them to make me bankrupt (It is in the small print, provision was mde for it)...


I'm happy

fermi

foulplay13 wrote: »

Well I'm in a IVA, just told them to make me bankrupt (It is in the small print, provision was mde for it)...


I'm happy

Not all IVAs have that provision in the agreement unfortunately. And in the ones that do, the IP/supervisor is often reluctant. It costs them money to do after all. :rolleyes:

foulplay13

fermi wrote: »

Not all IVAs have that provision in the agreement unfortunately. And in the ones that do, the IP/supervisor is often reluctant. It costs them money to do after all. :rolleyes:

Yes, I have mentioned it on one or two of my other posts, but due to the conditions imposed by some creditors (and the length my wife and I's IVA), provision had to made in the first 12 months of payments..

fermi

foulplay13 wrote: »

Yes, I have mentioned it on one or two of my other posts, but due to the conditions imposed by some creditors (and the length my wife and I's IVA), provision had to made in the first 12 months of payments..

You are lucky then.

Lensman_2

P0kerface, you should read this thread.
http://forums.moneysavingexpert.com/showthread.html?t=1056083

Kebark, don't assume all they tell you in Collection's School is !00% true or legitimate. Please stick around though. Your "insider's" input would be particularly usefull on the DFW board.
http://forums.moneysavingexpert.com/forumdisplay.html?f=76
But please bear in mind, these two boards are for support for people, 99% of them are in trouble and at their wits end.
Lastly, judgement of others has been mentioned. It is one of the foundations of these boards to be non judgemental.
TIA.

foulplay13

fermi wrote: »

You are lucky then.

they insisted on it..



:eek:

P0kerFace

If i do decide to go bankrupt whats the best way to go about it? how do i start the ball rolling?

Lensman_2

Does your IVA have a bankruptcy clause?