What Should We Do!

[Antonio1960]

Hi there we need some advice.
My wife as been doing A.V.I With a company ,Vardennnuttal,is ther name.
Back in March for Health reasons my wife as leave her job.and we inform them
that from that moment that She wood bee a home .they turn and said that wasn't
problem and they could wait until could find another job.From September They
keep ringing asking .Well She wood like to go for Bankrupcy but because they keep extending Her Iva Horder she doesn't now what to do1

[Peter Pedant]

.
I am surprised and sorry to be the first to answer.

I am sorry to hear that there is both illness and debt in the family.
Somewhere near you there will be a Citizen's Advice Bureau who will be able to help you give advice - they are very good at problems with Debt.
Go to morrow and Good Luck

[Kathyan]

If she is in an IVA and has missed payments, they can't just keep extending it. If her IVA fails, she will have to go bankrupt anyway.

[tonywiltshire]

As Kath says the Insolvency Practitioners cannot extend the IVA for ever and perhaps you should consider bankruptcy as Varden Nuttall now are, if your wife has been unable to work for 9 months is there a realistic chance of her returning to work? If you do consider bankruptcy and you and your wife own a family home take advice on the position.

[themas]

Agree with both the above. Get advice from CAB - not from a fee charging outfit.

It is essential the IVA has formally failed before she goes bankrupt - the Insolvency Practitioner has to do the formal documentation for this & the Insolvency Service have to be advised.

If the Practitioner goes on dragging their feet make a formal complaint to them & pursue it to their regulator if necessary.

Read the IVA documentation you have. It is just possible it may include something making the Practitioner liable for making her bankrupt if the IVA fails. If that is not the case, she will have to petition for her own bankruptcy - cost £700 (but may be able to get remission of the £175 Court fee part of it).

[annieigma]

I was told you can miss IVA payments for maximum of 6 months, but there must be a realistic way to start repayments and keep them going after this time.
I also read that you can get some society to pay the bankrupcy fee if you have no money to be able to pay it yourself, you will have to search google to find out who they are. I know a chap who had to go bankrupt, just filled in the forms, paid the money. quick chat in court with someone. all done. He got no hassle from anyone, may not be the same in all cases I fear.

[themas]

annie - the 6 months missed IVA payments depends on the terms of the IVA. They are not all the same.

Bankruptcy fees can sometimes be paid by a charity - CAB should be able to help search for a suitable one as this can be quite difficult.