How to go Bankrupt Advice Please

alastairq

tigerfeet2006 wrote: »

No they won't expect him to pay anything towards an IPA. All they would look at is he is paying a fair amount towards the joint household bills. So if you earned the same they would expect him to contribute 50/50 towards household bills. Any money you have left then that is what will be looked at for an IPA.

If you have no joint financial products then he will not have any problems.

Hope that makes sense.

sorry, just felt the OP might need certain wee words actually hiliting....sorry again

longtermplanner

There is very little chance that youre IVA company will make you bankrupt because it will cost them money. That clause is there as a general provision, say you got a windfall payment and refused to pay the money into your IVA, then they could make you bankrupt and know they would get some money back.

What you do now is stop making any payments into your IVA and start saving up the money for bankruptcy fees. And get yourself a CAB appointment, it doesn't matter if it is a month away, you aren't going to be able to go bankrupt quickly as your IVA has to have failed first.

dancingfairy

How far through your IVA are you? Can you not just get the to call a creditors meeting and to agree a lower repayment amount?
Can you get together a lump sum from anyone in order to make a settlement of the iva?
Obviously it all depends on how much you owe and how far in you are. You might find that your creditors are willing to accept a lower amount but you would have to push the iva company to draw up a variation as they aren't likely to be too keen to do loads of extra work.
If either of these options (lump sum or reduced payments) might be an option for you then I'm sure you'll find loads of help and support on the iva board about how to go about it.
df