Hey all. This is going to sound really silly but im very nervous about speaking to my ip about possible bankcruptcy. I have put it off for two days now ! I just don't know how to go about it. Can anyone offer any advice or reassurance ?
Hi Elle. Do not be concerned as your IP will already know that your IVA is on life support and given the previous payment holidays the IP would probably have to fail it soon anyway on statutory grounds.
Speak to your case manager who should be sympathetic and offer assistance and if your IP firm is a contributor to this forum you can be guaranteed help and support through this difficult time.
Elle - just pickup the phone ask for your IP or Case Manager - take a deep breath and tell them. Thats all you have to do. I'll keep my fingers crossed for you - let us know how you got on. Good luck.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Elle, your IP or supervisor will be quite understanding I am sure. Pick up that phone and give them a call.
Good luck, and let us know how you get on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hey all.I was unable to speak with my ip as he is on annual leave until next week. I did speak to a lovely lady who was very understanding and helpful. My ip will be calling me next week to talk through all my options. Meantime i have been advised to speak with citizens advice to see what they advise given my situation. Is that a normal procedure before they discuss bankcruptcy with you ? Anyway, at least i have started the ball rolling. Thank you all for your advice and kindness so far, it is much appreciated ! x
Glad you are getting sorted elle. It won't hurt to speak to the CAB.
Don't forget that you can ask any questions on here once you have spoken to your IP and CAB. We'll always help where we can.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Glad you have taken the action - good luck and keep us informed
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
I hope the CAB can help you next week Elle. Let us know what happens.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hey all. Spoke with my ip today who has also advised me to speak with CAB and then get back to him asap on what i want to do. I have also spoken with my parents about the possability of bankcruptcy and they have flagged up a concern. Because i live with them, if i go bankcrupt will it affect their credit rating ? Does anyone know ?
As long as you have not had joint financial dealings with them, then they should be ok.
They can file a notice of disassociation with the credit reference agencies so that they will still be able to get credit.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
It won't affect your parents Elle, and as Jan says if they do have any problems they can file a notice of disassociation with the 3 credit agencies. I lived with my partner when I went BR and his credit rating wasn't affected, and some of my debts were at my mums and she hasn't has had any problems.
