Anyone had Bankruptcy petition refused?

Maybeelady

Hi,

I was wondering if anyone has had experience of their BR petition refused and some other course of action recommended instead (eg. IVA or DMP)? Is this very common? If this happens are you legally required to through with the alternative action?

Thanks!

debtinfo

All you need to show is that you cannot pay the normal required payments as detailed in your ontracts and there should be no problem

maxmycardagain

If you can state to the judge that you have taken advice, that you understand the implications of going BR and cannot service your debts then there should be no bar to you going BR if he/she is happy with your forms.

I believe that having a current IVA could require the IVA's company approval but others will know more

peachyprice

There's been no-one here who that has heppened to. We've had a couple of people who have been refused because they haven't had a failure certificate for their IVA, but that has been a delay rather than refusal.

All the judge looks at it your level of debt compared to your level of income and can see quite clearly that you are insolvent, they're not really interested in making you do something else, just that, as Max says, you understand what you are doing.

We have heard of CAB/CCCS advisors telling people that this might happen, but in reality it just doesn't.

fatou256

true peachy!

the district judge i have seen even ask me if i did intend a DMP or something like that and i answered that well getting a part time wage of 300 pounds a month will not pay much towards a debt of over 51 K .

He agreed with me and told me he wanted to make sure hat i understand all implications of BR before hand. he went explain various side of BR law in details he ven todl me that i should have done much earlier .

he was very nice and very understanding i must add.

debtinfo

I do know of a case where the bankrupt had not taken any advice and had debts of only £3k. Needless to say the Judge sent him away for a week to speak to the CCCS but did make him bankrupt when he came back a week later

motivate11

i want allowed to go bankrupt until the iva failed back in may and received a letter from iva company hope this help[s