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kentmikey
New Member
61 Posts |
 Posted - 06 June 2010 : 10:58:28
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Hi there, haven't been on this site for a while. My Wife and I are currently under an IVA through Blair Endersby. We have been struggling with this and have recently (within the last couple of days) received a revised variation report. I really don't believe the IVA is the right and certainly don't see any light at the end of the tunnel by continuing this route.
At the same time we do not have the funds to apply immediately for BR which as I understand it is £550 if we submit BR ourselves. I believe that we'll have a couple of months before Blair will issue the default/failure notice so we can save what we can but am I right in thinking there is no way of submitting bankruptcy without paying these fees at the outset?
Thanks for any help and advice that can be given.
Mikey |
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Daniel Griffiths
Junior Member
United Kingdom
268 Posts |
Posted - 06 June 2010 : 11:07:34
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Hi Mikey
You have time on your hands to petition for bankruptcy by saving the fees you are currently paying to Blair Endersby, you are still in the IVA so have protection from creditors anyway, having the termination letter from Blair makes petitioning more easy, so dont panic if this is the way forward for you, then you have plenty of time, by the way the fees are now £600 for each of you. |
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debtinfo
forum expert
2826 Posts |
Posted - 06 June 2010 : 11:08:27
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It costs £600 each and you do have to pay on the day that you go to court. It takes many months for your creditors to actually take any action against you, they may call and write and threaten but most people have about 6 months before any court action would be taken.
You also dont have to do it at the same time, so the one of you that has the heaviest pressure from creditors could go bankrupt whilst the other saves their money |
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kentmikey
New Member
61 Posts |
Posted - 06 June 2010 : 16:10:14
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Oh dear always expense. That is an interesting throught about one of us going bankrupt. However, how would this affect debts that in joint names?
Mikey |
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debtinfo
forum expert
2826 Posts |
Posted - 06 June 2010 : 17:09:52
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| In the meantime they would fall to the none bankrupt person but if the other one is going to follow suit after a few months it matters not really |
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kentmikey
New Member
61 Posts |
Posted - 06 June 2010 : 17:26:45
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Thanks debtinfo i personally feel it would make sense for us to both go BR together to keep everything nice and tidy so to speak. Another question, obviously everything that is included in our IVA would be submitted with the BR however, we have had problems with renting places and so i am currently in arrear with various, gas and electric companies. Can I also add these arrears to the BR?
Mikey |
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debtinfo
forum expert
2826 Posts |
Posted - 06 June 2010 : 17:29:48
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| yes you can, they may put you on pre payment meters though |
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kentmikey
New Member
61 Posts |
Posted - 06 June 2010 : 18:23:00
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Well the good thing is the companies we have the arrears are not with the company with have our gas and electric supplied by for our current address. So I am thinking of stopping paying these and putting this money to oneside for the BR charges
Mikey |
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Heading towards Bankruptcy
