can i apply for Bankruptcy?

spikesteve

my wife and i are in major deep. you know.. any way. all the normal jazz. credit cards, store cards loans. loans to pay off loans. bigger loans to pay more. and this was before i met my wife. i started dept managment to pay off my creditors.. would take a while but fine. i met my wife and found out she had the same kinda dept.. when i was aproched by the dark side ( iva's). we both joined out depts and started a iva with freeman jones. 3 years in i lost my job and so did my wife. the iva then failed. when we both got new jobs we decided to start the iva again. 1 year and a bit in. my wife lost her job and her health so cant work at the mo. and 3 months ago i lost my job and cant find new work. the iva people have said we can put off payments but we would have to pay them back when i work again. so i went to cab to ask my options and one was Bankruptcy. the thing im worryed about. would a judge so no to Bankruptcy because i have already tryed a iva. also the iva people have offered to do the Bankruptcy paper work at a extreme cost. i just dont know how to start this. what do you think the best thing to do is. thank you

debtinfo

hello and welcome, we always start by saying get some free impartial advice from the likes of CAB, CCCS or national Debtline. numbers in the sticky at the top. Dont pay the IVA company alot of money to fill the forms in for you. It is quite simple to fill them in yourself.

There will be no problem with the Judge as it appears that the reason the IVA has failed is due to a genuine change in circumstances, if you havent already make sure that you get a certificate of failure from the IVA company (the judge may ask you for it).

If you havent used any credit since starting the first IVA it would be a very straight forward bankruptcy and it should be apparant to the Official Receiver that you have made considerable effort to repay your debts.

Finally feel free to ask questions and nose through the other threads on the boards

sizzler

Hi there and welcome.

BR is a last resort. To go BR you must be insolvent

Firstly if you have spoke to the CAB regarding BR how much did they explain?

Also take advantage of the other charitys and get as much info as possible as a judge allways asks that you have taken out advice.

I personally and many others would not pay someone to do the paperwork.

The forms although long are fairly straight forward.

I would suggest doing them on line at the insolvency site. You can fill them and save them. Once completed print out the three copies and these go with you to court.

If your IVA has failed i think most judges would look upon this that you have tried to resolve your debt problems which is good.

Any questions please ask away.

Regards sizzler:)

sizzler

thanks debt you type quicker than me:rotfl:

spikesteve

thank you for the advice. i am making phone calls at the mo to the dept charitys to help my case. the only major problem i am having now is . its been so long since i have been with my iva that i dont know who i owe all the money too. i have called freeman but they wont send me the full informaion. is there anyway i can find out how much i owe and whom i owe it too. thanks

confused76

hi there
you could get a credit report from credit expert or experian, this should give you more info

sizzler

As long as you have the address for them the OR will get any missing information. Just tell them they would not supply it to you.

sizzler:)

David_F

Hi Spikesteve,

You could try sending off for your credit report with Experian. This would list all of your creditors who you have had a financial relationship with over the last 6 years.

You can apply on-line on the following link and only costs £2

http://www.experian.co.uk/wiseconsumer/

philnicandamy

You'll need to get Experian/Call Credit & equifax files..NOT just one as sometimes information can be missed on one but show on another

dojoman

Agree with Phil here, there was no record of RBS on my Experian report but it was on the Call Credit and Equifax reports.

David_F

Sorry about that, I stand corrected. Good advice from both philnicandamy & dojoman. I had the same situation where some creditors were not on Experian but were showing on Equifax. Here's the links for all three.........

http://www.equifax.co.uk/Products/credit/statutory-report.html
http://www.experian.co.uk/wiseconsumer/
http://www.callcredit.co.uk/consumer.aspx