If an IVA cannot be continued

3 posts Page 1 of 1
Post Reply
 
 

roy.f

User avatar
Posts: 1
Joined: Mon Apr 14, 2008 9:56 am
Location:
Post by roy.f » Mon Apr 14, 2008 9:57 am
Quote
If due to changes in circumstances an IVA cannot be continued - substantial and permanent fall in individual or couple earnings for example - the client who has no assets might be better advised to go Bankrupt.

What is your advice on the legal way forward please. Court officials seem ambivalent about what is required.
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Mon Apr 14, 2008 10:17 am
Quote
Hi roy and welcome to the forum

If you decide to declare yourself bankrupt whilst in an IVA, you ought to be able to make the same application as if you were not in an IVA - but there is a question on the forms which asks for clarification as to whether you are subject to any formal debt repayment proceedings.

Some people have suggested lately that the Courts are refusing to grant orders if an IVA has not been defaulted, but I have to say this is not my personal experience.
Regards, Melanie Giles, Insolvency Practitioner
Top
 
 

chris.g

User avatar
Posts: 2102
Joined: Thu Oct 25, 2007 10:38 pm
Location: United Kingdom
Post by chris.g » Mon Apr 14, 2008 10:20 am
Quote
Hiya Roy and welcome to the forum.
There are quite a few people who declare br while in an IVA due to one reason or another. I think you should contact your ip to discuss your next move.
It's nice to be back......
Top
Post Reply
3 posts Page 1 of 1
Return to “postings for april”