Update & your help needed please!!!

Tigerlily31

Hi there,

Further to my first post entitled any advice please.. I need some advice!!!

I have phoned Payplan regarding my IVA and they have informed me that there are enough funds for them to make me bankrupt, obviously this leaves me not knowing when it will happen etc, etc as I will have very little control over it all really.

It has to be done, that said as I can't afford to bloomin well live at the minute, never mind pay off debts!!! Just needed to know if anyone else has done it like this and knows what the process will be like if Payplan declare me bankrupt??

Any advice would be most appreciated, I am off to a drop in CAB tomorrow however I suspect I will need to make an appointment to see the money man/lady.

Thanks in advance,
Tigerlily x

fermi

Good luck with this.

I've no direct experience with how quickly the IP's at Payplan act, but I should hope that as soon as the IVA is formally 'failed' they would get things done fairly quickly.

Have you spoken to your actual supervisor/IP?

I'm interested to see how they go about this.

Tigerlily31

Hi Fermi,

I have been advised to save up the money and declare myself bankrupt by my supervisor. Payplan will have to get consent from my creditors to declare me bankrupt and apparently chances are a million to one!!! In the meantime, they are aware that I can't make any payments and have told me they will keep the IVA in place for the next few onths while I save the fees so I am not harassed by creditors.

I though that was very kind considering and well now I just have to save all my pennies!!!

Tigerlily x