bankruptcy help very worried...

debtinfo

You could do eventually, but this takes a long time, you have to get a CCJ first (who cares you are going bankrupt), then you have to break the terms set by the judge, only then can baliffs be instructed. Even then if you dont let them in and keep any vehicle hidden then they cant take anything, Not ideal but the quickest way to bankruptcy. You do understand that if you go with this company your IVA still fails and all the above can still happen, just means it takes you longer to get to the protection of bankruptcy because you are paying their fees

arghhh

JCS1 wrote: »

It may be considered as disposing of an asset - also the OR can write to DVLA and ask them for current and former owners of a vehicle.

How much is the car worth? If the OR doesn't exempt it from a BR, you can always make them an offer.

car is worth a max of £500 if we are lucky, it is a cheap run around, reliable (until it failed the mot) but didnt cost us much in the first place.



i thought CCJ's couldnt be included in BR?

arghhh

debtinfo wrote: »

You could do eventually, but this takes a long time, you have to get a CCJ first (who cares you are going bankrupt), then you have to break the terms set by the judge, only then can baliffs be instructed. Even then if you dont let them in and keep any vehicle hidden then they cant take anything, Not ideal but the quickest way to bankruptcy. You do understand that if you go with this company your IVA still fails and all the above can still happen, just means it takes you longer to get to the protection of bankruptcy because you are paying their fees

i thought we had the protection of the IVA company, they said that should any creditor hassle us while we file for BR we can refer them to them to deal with?

debtinfo

sorry i got lost in the thread, is it the IVA company that are going to be applying for your bankruptcy, do they want more money from you, did they not save some of the fees you have already paid to do this

Ineedaname

Let's get this straight.

YOU attend Court to apply for BR.
YOU take the fees to Court with you.
YOU pay any IPA amount to Moonbeever.

I don't understand how the IVA company can offer to do all the above for you.

If you continue to pay them your monthly amount then you will not be able to save for BR fees anyway.

They should NOT be advising you to lie on legal forms as to the use of the car.

Methinks they are just trying to recoup some of their losses should you go BR, do not trust them to do this for you.

Honestly, the forms are not a problem to fill out with the help of this forum. I and most other members did it ourselves without help from any fee paying company. I had advice from the CAB to go BR but I didn't need them to fill out the forms for me and I went to Court with a friend.

If your creditors refuse the reduced IVA and you feel BR is the best option for you now, then stop paying the IVA company, let it fail and then take advice from one of the FREE debt charities. Then make use of this forum to help you go through the process.

live'n'learn

I was only a few months into an iva when i had to stop, after a while the people that are owed money will start phoning etc but it has given me time to save for the BR.

arghhh

debtinfo wrote: »

sorry i got lost in the thread, is it the IVA company that are going to be applying for your bankruptcy, do they want more money from you, did they not save some of the fees you have already paid to do this

i asked about this and apparantly any fees already paid have been used to sort the paperwork for the IVA when it first started, their 'admin' fees

arghhh

Ineedaname wrote: »

Let's get this straight.

YOU attend Court to apply for BR.
YOU take the fees to Court with you.
YOU pay any IPA amount to Moonbeever.

I don't understand how the IVA company can offer to do all the above for you.

If you continue to pay them your monthly amount then you will not be able to save for BR fees anyway.

They should NOT be advising you to lie on legal forms as to the use of the car.

Methinks they are just trying to recoup some of their losses should you go BR, do not trust them to do this for you.

Honestly, the forms are not a problem to fill out with the help of this forum. I and most other members did it ourselves without help from any fee paying company. I had advice from the CAB to go BR but I didn't need them to fill out the forms for me and I went to Court with a friend.

If your creditors refuse the reduced IVA and you feel BR is the best option for you now, then stop paying the IVA company, let it fail and then take advice from one of the FREE debt charities. Then make use of this forum to help you go through the process.

i wish i had your confidence, i think i need to get hold of some of the BR paperwork and see it for myself maybe its the fear of the unkown thats bothering me with regards to thinking theres going to be masses of paperwork to fill in?

the IVA company have pretty much said they dont think the creditors will accept the new payments so they would have (after the meeting on monday) looked into things like BR anyway


Do we have to have defaulted on the IVA for 3 months is it before we can file for bankruptcy, if we no longer have to pay the IVA company their £338 thats something that could potentially be saved each month and we have now cut down sky and various other things to try and save some money there too so am sure that if it is 3 months before the creditors would start harrasing us again we could possibly save up the BR fees within that time, maybe 4 months at a push for the last couple of hundred.


also february time if he's lucky hubby may get a bonus from work, usually around £700 ish would this have to be declared to the OR?

arghhh

sorry for all the questions, another one, do we have to notify people like the waterboard, gas and electric companies, the council tax offices etc. that we are BR?

alastairq

arghhh wrote: »

sorry for all the questions, another one, do we have to notify people like the waterboard, gas and electric companies, the council tax offices etc. that we are BR?

no....

Once someone has gone BR, it is the OR's duty to inform anybody who actually needs to know...........