help with going br please

spikeisbroke_2

hi,
today i got a letter from iva company saying they are making me bankrupt.On the letter it tells me a court date of 14th sept has been set, but what next? Do i need to attend? i think i should but they are making me br not me asking for it.do i need to wear a suit? stupid questions i know but i dont know what happens next-will they need to speak to my partner? what about the house-25% owned by builders and not in equity since 3 years ago due to prices dropping.Does it get sorted on the day?
sorry for the questions.just dont know what to do or have prepared.

So_Sad_Angel

Hi Spike

I don`t know much about the IVA failure process but I`m sure someone will be along shortly to offer their point of view.

Smart casual is usually the order of the day for a court appreance ( its not really a court like you see on TV) just a normal person ( the judge-no wigs or stuff) sat at a table in a room .

May be worth you calling Nat Debtline(immediate advice) CCCS or CAB for advice on the letter & implications thereof.....If however the IVA Co are petitioning then you will not have to pay the £510 costs.

Angiexx ( don`t feel I was much help there but did`nt want to read & run)

spikeisbroke_2

thanks Angie,

all info is well received, and im glad you didnt read and run! i just dont have a clue what happens or who i need with me.

tigerfeet2006

Hi and welcome.

You don't need to attend the court but if you want to then go for it, it will help you understand what is happening. After the judge has stamped the BR order then you wait for the OR to get in touch. He will send you a pack which will have a SoA to fill in with your incomings and outgoings (pop on here and we can help with that.) and various forms to sign and a list of things to send him. If you go to court then just go in what you are comfortable in, smart casual.

If your house is in negative equity then you most likely won't loose it. The OR will normally offer you a chance to buy his interest for a £1 plus nominal fees of £211.

Have a read through the first post of the Bankruptcy Help sticky, this will give you lots of info and if you have any questions just ask.

Also give National Debtline a ring to go through what is happening and they will explain all the in's and out's as well. It is always best to get some professional advice on these things. Be patient as they are busy and it might take a while to get through.

All the best and keep reading and ask anything you need.

stressedandconfused_2

Hi, Spike - My IVA failed and I was made BR. I was told that if I did not contest the bankruptcy and acknowledged receipt of the BR order then I didn't have to attend court. I then receieved the OR's pack, plus a letter from the court confirming that neither I nor my creditors had attended court and the letter was confirmation of the bankruptcy order. Hope this answers your question (but all cases are different, so I would just check this out with your IVA co. or the solicitor, just in case) Wishing you the very best of luck. I am at a similar stage to you, in process of filling in forms and trying to find documentation that I know I will never find... then OR interview on the 28th, then, hopefully onwards and upwards... Best of luck

spikeisbroke_2

thanks tigerfeet and stressedandconfused, im feeling better about it already:cool: .im a bit worried about the car situation though as i drive an hour and half to work and need a fairly decent car for reliability ( fiesta 1.25 2005) so i hope they let me keep it, £1000 doesnt really get a good reliable car does it if thats what the allowance is.my partner has a 10 year old focus 120000 miles and needs it to get to shopping, school runs etc do you think we will lose both?