can your bankruptcy application be turned down even if your IVA fails ?

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jayne.64

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Post by jayne.64 » Sun Oct 21, 2012 11:35 am
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can your bankruptcy application be turned down even if your iva fails
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TheMatrix

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Post by TheMatrix » Sun Oct 21, 2012 11:41 am
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If you can show you're insolvent then I believe not, it's the final option I guess.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
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Niobe

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Post by Niobe » Sun Oct 21, 2012 12:10 pm
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I don't think you will have a problem - as long as you can show to the court that you have taken advice about your insolvency then you'll be fine.

Do check with the court as to whether or not they require to see a termination letter for your IVA. Some do, some don't.
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MelanieGiles

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Post by MelanieGiles » Sun Oct 21, 2012 3:37 pm
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Bankruptcy orders are still discretionary and only made at the hands of the Court. In most cases, however, they are automatically granted.
Regards, Melanie Giles, Insolvency Practitioner
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