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In an IVA but want to go bankrupt

singlegirl
Posts: 85 Forumite
Can someone please advise how I can go bankrupt.
I have £26,000 of debts. I live in council accommodation and am in full time employment. My IVA was approved 09/09/09 - not a date I will forget! I pay £170 a month and have already missed one payment, which means it is now £184 for the next 12 months.
I simply cannot afford this IVA and am constantly borrowing to live (ie not paying my council tax one month and then paying it the next). I never have any money and I am so depressed - I cannot do this for another 4 and a half years. I have an 18 year old son who has 2 part-time jobs so I don't get any money from him (we did decide he was going to give me a £100 a month but he can't afford this). My food allowance is £190 a month and this is simply not enough to buy food for both of us. I also have 2 cats and they cost me £30 a month which is not in my IVA.
How do I go about applying for bankruptcy?
I have £26,000 of debts. I live in council accommodation and am in full time employment. My IVA was approved 09/09/09 - not a date I will forget! I pay £170 a month and have already missed one payment, which means it is now £184 for the next 12 months.
I simply cannot afford this IVA and am constantly borrowing to live (ie not paying my council tax one month and then paying it the next). I never have any money and I am so depressed - I cannot do this for another 4 and a half years. I have an 18 year old son who has 2 part-time jobs so I don't get any money from him (we did decide he was going to give me a £100 a month but he can't afford this). My food allowance is £190 a month and this is simply not enough to buy food for both of us. I also have 2 cats and they cost me £30 a month which is not in my IVA.
How do I go about applying for bankruptcy?
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Comments
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Hi and welcome SG, First thing and most important is contact one of the following debt charities. Please try these they don't charge and are impartial.
They will go through all your options with you and if they suggest bankruptcy then come back to this board and we will help you all we can.
Please click on Blue links below:-
http://www.citizensadvice.org.uk/index/getadvice.htm
http://www.nationaldebtline.co.uk/
http://www.cccs.co.uk/
For more ‘essential’ info and more Debt charities:-
http://forums.moneysavingexpert.com/showthread.html?t=1056083
Best wishes
If...x"If wishes were horses, then beggars would ride"
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I definitely want to go bankrupt. I will go to the Citizens Advice Bureau, just to prove to the judge that I have taken advice. I have spent the last 2 days on the internet looking at my options.
What I want to know is what do I do now. I have 2 bank accounts, one is in the IVA and the other I opened in august. I guess I'm going to have to open another bank account for my wages to go in (obviously after the bankruptcy petition) and bill payments.
Do I contact my IP and tell them I want to go bankrupt, stop paying my IVA and do I fill in the forms myself, make the appointment at the court, etc, etc.0 -
The only 2 bankruptcy friendly accounts are the Co-op cashminder and the Barclays Cash account. Any other bank will generally freze the account.
You will need to check with your local court whether they need a certificate of failure from your IVA co. Some do and some don't. While you are on the phone to them find out what sort of system they operate and if appointment then what the lead time is.
You need to stop paying your IVA and start saving for your fees. You can fill the forms out on line or the court can send you paper copies (when you phone the court check how many copies yuo need 1,2 or 3.) If you click on the link in my sig. in the first post of that link there is lots of information and links to the online forms and much more.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Talk to your IP as soon as you can. Find out what they will or can do if the IVA fails.
Also you will need to talk to your local county court. While some local courts/judges will let you go bankrupt from an IVA without proof that the IVA has failed, some will insist that you have an official certificate to show that the IVA has failed/ended.
Obviously, the last thing you want to do is go to court for the bankruptcy and have it turned down as you don't have a certificate. It has happened to some people here.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Wow, lots of info and thank you all.
I have a Halifax basic bank account, no cheque book, no overdraft - do I need to open another - I could have my wages paid into my son's bank account, which is what I did in August. It's a lot of hassle changing my direct debits.
If I stop paying my IVA I will get lots of phone calls from them, this happened when I missed the last payment end of January. I thought I could catch up with myself, and I did in February, but my car has needed a new exhaust, new tyres (and was subsequently told it needs new brake pads and discs). £300 in total which I borrowed from my Mum (I think my car is only worth about £500). This is why I want to go bankrupt. My iron broke, there is always something to buy or replace.
I have part-filled in the bankruptcy forms. I just don't know what to do next. My Mum doesn't know and I don't want anyone in work to find out.0 -
i cant for the life of me see why your son cant contribute when he is working 2 jobs, which is more important to him, eating, paying his way and helping you out or paying for his mobile phone. and youre letting him get away with it. Tell him to pay towards his keep and you might be able to keep your head above water.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
singlegirl wrote: »Wow, lots of info and thank you all.
I have a Halifax basic bank account, no cheque book, no overdraft - do I need to open another - I could have my wages paid into my son's bank account, which is what I did in August. It's a lot of hassle changing my direct debits.
If I stop paying my IVA I will get lots of phone calls from them, this happened when I missed the last payment end of January. I thought I could catch up with myself, and I did in February, but my car has needed a new exhaust, new tyres (and was subsequently told it needs new brake pads and discs). £300 in total which I borrowed from my Mum (I think my car is only worth about £500). This is why I want to go bankrupt. My iron broke, there is always something to buy or replace.
I have part-filled in the bankruptcy forms. I just don't know what to do next. My Mum doesn't know and I don't want anyone in work to find out.
you could ask Halifax if you were to go br would they let you keep it. however, personally i would open a coop or barclays basic account as these banks are known to be ok for br's. it would save hassle down the line if you've got the account already set up0 -
The Halifax will close you down as soon as they get a whisper of your bankruptcy, four days for me.
As fermi says talk to your IP and see if they will help and what thier process is for failing you.
Phone National Debtline on Monday they are open 9am to 9pm and will give you some straight forward advice. Also read through the first post of the link in my signature.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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