I.V.A / bankrupsey on insolery register

mug098

Hi again i am just after a bit of advise on the above.

January 2010 i entered in to an i.v.a (runs for 5 years)
April 2011 i went bankrupt (1 year if all goes well)

On the insolvery register when i search my name i apear twice one for i.v.a then one for bankrupt.

My question is when will my name be removed from the site with regards to both cases.

I have stoped all payments for the i.v.a as from last month but was wondering if the i.v.a will still show on the register when discharged.

Thanks in advance

fermi

http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/iir.pdf

How long do records stay on the register?

Depending on the type of entry, details stay on the register as follows:

• Bankruptcy records stay on the register for 3 months after the date of the individual’s discharge. or if the bankruptcy order has been anulled (cancelled) because the debt have been paid or a voluntary arrangement has been approved. If the bankruptcy order is annulled because it should not have been made, the record of the bankruptcy will be taken off the register 28 days from when The Insolvency Service is told about the annulment.

• IVA and FTVA records stay on the register for 3 months after the arrangement is withdrawn, completed or terminated.

mug098

Cheers for that so in theory my i.v.a should have disapeared before i am discharged.
Also the i.v.a was a joint thing between me and my ex-wife, i have gone bankrupt but she hasnt so how does it stand then.

debtinfo

you dont have a joint IVA, you have 2 separate IVA's. Did you get a certificate of termination for the IVA, as fermi says, it should dissapear 3 months after that date, has your wife's also failed, same also applies to her

mug098

we were paying £250 a month for both of them as one payment so i thought it was joint , not had a certificate of termination as i only just stoped paying it so only missed one payment but most of the debts were in joint names so that made me think it was joint i.v.a .

So what will the iva do with regards to me not paying it and also what will happen to all the debts that were cooperated in to the i,v,a

Many thanks

Ineedaname

As you've now gone BR, all the joint debts will fall to your wife to deal with. Can she afford £250 per month on a sole IVA for all the debts?

mug098

the wife has upsticks and disapeared buring her head in the sand thinking every thing will go away and i will continue paying all the debts as well as bring up the three boys (!!!!! but i cant let it get personal) . it left me no choice but to go bankrupt and she is not aware i have. she just feels she can walk away and get on with her life and start again with out paying any thing. I have no fixed address for her and i dont beleive she has one so how will they go about getting hold of her and how long do they usually search for before giving up.

If and when they do find her i beleive she will have no choise but to go bankrupt her self which is what she should do now to get it over with and move on with her life but she seems to think they can not touch her and that she is royalty. Very imature and childish and unable to face her responsibilities as she thinks they are going to go away.

Ineedaname

As she's left you and you have no details for her then I wouldn't worry, just look after yourself and your boys. You are already doing the best you can for them, keep at it and let your wife worry about herself.

mug098

Thats good advise but i can asure you that i am not worried about her in the slightest just a little concerned as she is the boys mother so didnt want the boys getting hurt any more than they have been.

My main concern was that if they did find her soon and she agreed to pay the £250 i.v.a then will i still be attached to the debts incorparated in the i.v.a or not. I am kind of hoping they dont find her while i am bankrupt as not sure if she can throw a spanner in the works for me if that makes sence.

JCS1

Your bankruptcy means that you are no longer responsible for any unsecured debts. Any joint debts now fall to your wife (and they have 6 years to pursue her from the last payment/acknowledgment of the debt before it is statute barred).

You are still responsible for the mortgage and any secured loans, until the property is respossessed and the debt then becomes unsecured and goes into your BR (just DO NOT sign anything saying you are liable for the mortgage shortfall)

mug098

So basically once i am discharged from bankruptcy i will be totally debt free is that correct. What do i do if creditors contact me once discharged or wont they?

Cheers for all the advise