www.iva.co.uk

POstman just been. Had a letter from Barclaycard (we owe them £222). They said that they understand that we are going bankrupt and could we please send them the bankrupt order when it has been completed!!!!

Its got to be a mistake right? We sent them a letter saying we were contemplating an IVA but never mentioned bankruptcy.

Scared again now. Will they make me bankrupt?

probably a mistake on there part.. give them a ring and you put them straight.. don't worry

We had one of those. It was after we had done our IVA though. I just get annoyed that they think we are bankrupt. We're not - we're in an IVA! I think what they really want is a copy of the court papers from your IVA, which of course you don't have yet.

We sent ours to our IP. You could speak to Melanie about it, or just send it to her.

They won't make you bankrupt - it would cost them far more than the £222 you owe them for them to do that.

Hang in there!

I had something like that as well.

Even our mortgage company wrote to us and told us we were bankrupt! I wouldn't mind if I was, but I am sure these people don't read past the 'Insolvency' bit on the letter. If you're insolvent then you must be bankrupt. I'm not.

Apologies to those people who have gone BR - this post is no way intended to be a slur on you. I know how easy it would be for me to slip off that IVA ladder.

Does it say Bankruptcy or insolvency?
If you cannot pay your debts when they fall due then you are insolvent People are insolvent if they are in an IVA.

I must admit Kallis3 I get annoyed with that. I am insolvent yes and have an IVA but I am not bankrupt. To me that is completely different and should not be compared at all. I am not trying to offend anyone as each person is different with there circumstances

Hi Zoe,

Yes, I realise that I am insolvent in my IVA (how I hate that word - makes me feel like a complete failure). However the letters that I have had have specifically mentioned 'we have been told that you are bankrupt, please send us the bankruptcy order'. No mention of an IVA.

Our building society even did a 'drive by' valuation because they were told we were bankrupt - and charged us £65 for the priviledge!

Again like I say if you are insolvent in an IVA then you are not bankrupt. In my opinion they are completely seperate

Hi Ray,

I agree with what you have said, but some companies do not look past the word 'Insolvent'. They automatically assume it's bankruptcy. It's just that one word. It's just the interpretation that companies put on it.

I know I'm IVA insolvent at the moment, but in just under five years time I will be free from debt and I can't wait!!!!!!!

But the great uneducated in the financial world out there don't understand that!

Debbie

Evidently not Soulgrowth but somebody out there needs to educate them concerning the difference.

Kallis3 I know what you mean. I am counting down 37 more payments to go - woohoo lol!!!!!

Agreed Debbie and Ray - it's about time someone made that distinction.

Ray, your light is a lot brighter than mine!