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Chris.mo
Starting Member
3 Posts |
 Posted - 13 May 2010 : 08:43:01
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| Hi - I am the first year of my IVA - I pay £420 per month - I owed £50,000 to x9 creditors and an IVA was approved in May 2007. I live with my mother, wife and son. The property is that of my mother's. I am thinking of going down the voluntary bankruptcy route. I am though concerned this could jeopardise my future as I am wanting to live in Thailand one day with my wife and son. Also my wife is Thai (she has Indefinate Leave to Remain) and we were going to apply for Naturalisation/Citizenship next year - would going bankrupt affect this? |
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Chris.mo
Starting Member
3 Posts |
Posted - 13 May 2010 : 08:52:55
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sorry, the IVA was approved in May 2009, NOT 2007 so only been paying for one year.
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Chris.mo
Starting Member
3 Posts |
Posted - 13 May 2010 : 08:55:24
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Also, I had telephone call from a company trying to sell me the voluntary bankruptcy option last night - they said there were changes in the law in the budget this year and that your name isn't published in the newspaper anymore and that I can keep my current bank account without closing it allowing me to keep a debit card - I have searched the internet and cant find anything to say the law has changed in the budget this year????
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Bridgewood
Junior Member
United Kingdom
222 Posts |
Posted - 13 May 2010 : 10:34:03
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Hi Chris
Sorry, can't help on the citizenship/emigration issue - CAB may be able to assist on this one.
As far as the cold call is concerned, the law has changed regarding publicising bankruptcies, and it is no longer advertised in a local paper (except in certain circumstances usually relating to non-disclosure) - but it wasn't in the Budget!
The rules regarding bank accounts are not that definite, but it is possible that you may be able to keep your existing account, you would have to agree this with your OR and your bank (if you went bankrupt) - again, it's nothing to do with the Budget!
Good luck
Bridgewood specialise in helping people deal with their debts and make the most of their financial situation - providing free, no obligation debt advice.
We can also setup a complete range of solutions including debt management plans, IVA and bankruptcy support. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 13 May 2010 : 11:05:16
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Hi Chris
I think that it would be wise to speak to your IVA provider first and explain your situation they may be able to assist.
Personally I hate cold callers, i would rather do my research on the internet or from word of mouth.
On this forum you have some fantastic experts who have a vaste array of knowledge, Bridgewood has posted on your thread and i have used the services of Paul at Reviva so why not give them both a call
good luck regards Richard |
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debtinfo
forum expert
2826 Posts |
Posted - 13 May 2010 : 17:01:02
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| yeah.... never go with someone that cold calls you, do speak to your IVA supervisor first to see if they can do anything for you, If not it is fairly simple to fill the forms in yourself. The fules changed regarding advertising in the rules modernistion that came into force in April 2009. and finally most OR's have allowed you to keep a basic account open for many years now, the biggest obstacle now is the bank itself |
Edited by - debtinfo on 13 May 2010 17:01:25 |
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would going bankrupt affect Naturalisation/Citizenship
