Hi,I had financial problems and seeked help from a company and was advised that an IVA is the best option for me.I entered into the IVA in May last year and have been paying £200 until the beginning of this year when I gave up my job because I was being bullied.I started receiving income support and obviously couldn't keep up with repayments.I haven't heard from the company and my creditors are demanding that I pay my debts.I'm still not working and I'm getting very stressed with the situation.I've been to CAB and have been told to declare bankrupt.Where do I go from there?
Firstly, you nered complete a Statement of Affairs (SOA) and a Debtors Petition (DP) which you can download from the Insolvency Service website.
You then need to contact your local County court to book an appointment to see the bankruptcy clerk, taking 3 copies of your SOA and DP, together with the court fee of £495.
At court, the clerk will ensure you've completed the paperwork and get you to swear an affadavit to say the information is correct. The clerk will then present it to a judge (who may or may not want to see you) to make the bankruptcy order.
Up to 2 weeks later, you will be interviewed by the Official Receiver (OR) who wil lgo through your SOA. Depending on the circumstances of your case, the OR wil lthen advise you of the next steps.
Automatic discharge from BR happens after 12 months.
PLEASE NOTE: You will need a letter/certificate of failure from your IVA company to take to court showing your IVA has failed or you'll be turned away.
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
told to declare bankruptcy
Posted - 26 September 2008 : 12:43:11
