Can they do this to people

Had_enough_cmb

Hi
Long sad story but the top and tail is I feel behind in my iva and was petition for bankruptcy
I was told I need to pay all outstanding monthly fees totally £5280(thats till end of term sept 2014)
plus £2000 legal fees then £5000 supervisors fees but they would except 12.5k
today I offered to pay the 12.5k was told its now gone up to £16k ......is this right are they allowed to do this
I'm due in court Thursday I'm a my wits end this has already cost me my marriage and nearly my mind
Anyone got any kind of advice

mrtaximan

Hi.A lot of us on this site have been through the same thing you are going through now.You. Will get lots of good advice here so please keep posting your questions.Going Bankrupt is a big step but once it is done the relief is indescribable but please take advice first.

Regards
Mark B

K.Jones_2

I really feel for you. If you are considering bankruptcy then you have the upper hand.

This sounds overly simple but if you are really in a position to go bankrupt then just ignore all those crazy demands to pay anything. Do not pay a single penny more. It will all be included in the bankruptcy.

Depth_Charge

Had_enough_cmb wrote: »

Hi
Long sad story but the top and tail is I feel behind in my iva and was petition for bankruptcy
I was told I need to pay all outstanding monthly fees totally £5280(thats till end of term sept 2014)
plus £2000 legal fees then £5000 supervisors fees but they would except 12.5k
today I offered to pay the 12.5k was told its now gone up to £16k ......is this right are they allowed to do this
I'm due in court Thursday I'm a my wits end this has already cost me my marriage and nearly my mind
Anyone got any kind of advice

Hi

Are you petitioning for B/R yourself or are you being made bankrupt as a result of a breach or the IVA failing?

If you are asking if you can be made bankrupt as a result of the IVA failing, then the answer is YES it can and most definitely does happen on occasions.

There will more than likely be a clause in your IVA agreement concerning bankruptcy that will need checking regarding the above

It does not usually happen if there are no assets as they would be throwing money away so to speak and the IVA outfits are not in business to do that.

Have you any assets such as your home?

I am only asking as it is not clear from what you have put and that you have mentioned an offer of £12.5k