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Posted: Wed Dec 11, 2013 4:02 pm
by Martin.30
If my IVA fails and my supervisor pushes for bankruptcy, can I stop this by paying all debts in full ?
Posted: Wed Dec 11, 2013 4:14 pm
by ClareSilver
Bankruptcy can be annulled if all debts are settled in full.
Posted: Wed Dec 11, 2013 5:10 pm
by Michael Peoples
It is unusual for a supervisor to petition for bankruptcy unless HMRC instruct this. Usually creditors just ask for the IVA to be failed and they can then restart the collection procedures.
Posted: Wed Dec 11, 2013 9:17 pm
by MelanieGiles
Where would you be getting the money from Martin? If you have the ability to do this now, it makes no sense to take the risk that you may be made bankrupt - that process is very expensive.