Will I be made bankrupt as I received PPI payments which I did not put into IVA ?

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Lorraine.cl

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Post by Lorraine.cl » Mon Jan 21, 2013 9:58 am
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I wrote on Saturday I think my IVA will fail as we received PPI payments and did not put into IVA I cannot say online the amount the IVA people know about this and our review is due this month.Where should I get advice will they make me bankrupt and what do I have to do now.
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RHB

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Post by RHB » Mon Jan 21, 2013 10:02 am
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Have you still got the money? Hopefully the review will sort it out so that you can continue with your IVa.
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Michael Peoples

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Post by Michael Peoples » Mon Jan 21, 2013 10:11 am
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Your IP will need to notify creditors but they may accept an extension to the IVA if you no longer have the money. Creditors may want to know why you did not notify your IP and what happened to the money and hopefully they do not ask for the IVA to be failed.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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MelanieGiles

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Post by MelanieGiles » Tue Jan 22, 2013 12:59 am
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Were you aware at the time that you submitted PPI misselling claims and received the money that your IP may have some claim over these? And if you no longer have the money, what has it been spent on?
Regards, Melanie Giles, Insolvency Practitioner
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