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rabbit007
Junior Member
112 Posts |
 Posted - 09 July 2009 : 19:53:24
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| hi everyone,my question is.ive been to an iva for 2years now.without telling them that i started using my credit cards again and now i am really having difficulty paying just the minimum amount monthly.am i eligible for bankruptcy.thanks |
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mick1972a
Junior Member
235 Posts |
Posted - 09 July 2009 : 19:59:10
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| Not sure about using credit cards whilst in an IVA but you have to miss 3 IVA payments for it to fail before going bankrupt. |
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debtinfo
forum expert
2826 Posts |
Posted - 09 July 2009 : 20:12:08
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as mick1972a, to apply for your own bankruptcy your IVA must have officially failed and that would happen in most cases after 3 missed payments, Read your IVA proposal all the details about failure are in that.
Secondly, With regards to the use of credit cards whilst in the IVA, these would be included in the bankruptcy and wiped clear but be aware that the OR investigates your conduct and use of creditcards whilst officialy insolvent is one of the things they would be looking for. Now so that that i do not end on a downer i should say that if the OR decides to take action on that it would only mean extening the period that you cannot get credit for and a few other restictions (which hoefully you wouldn't want to do anyway. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 10 July 2009 : 18:02:51
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As the above.
You would probably need a notification of non compliance for the court to show that your IVA has failed.
If you haven't failed yet, then I suggest that when you stop paying your IVA you save up the money to pay your fees.
You could also contact your IP and tell them what you have done and ask them to fail the IVA now. You could go BR quicker then.
The glimmer gets brighter all the time
Jan
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Edited by - Niobe on 10 July 2009 18:04:01 |
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rabbit007
Junior Member
112 Posts |
Posted - 10 July 2009 : 20:45:42
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thank u all so much.
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 10 July 2009 : 21:01:11
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Good luck! Let us know how you get on.
The glimmer gets brighter all the time
Jan
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 10 July 2009 : 21:03:40
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Good luck from me as well x
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
24 IPA payments made, 12 to go - on the home straight! |
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am i eligible for bankruptcy.thanks
