Author Topic: IVA Company going for my bankruptcy  (Read 18735 times)


  • *
  • Posts: 1
IVA Company going for my bankruptcy
« on: Sep 08, 2015, 10:35:33 AM »
Hi, new to this forum.

I entered into a 6 year IVA in 2010 - payments made without issue for 3 years.

Due to personal circumstances, I wasn't able to make payment and took the ostrich approach and ignored things.

Very recently, I have been served with a petition for my bankruptcy.

I contacted the IVA company and threw myself at their feet - was told that they could cancel it as long as I:

1. Agreed to PPI investigation.
2. Completed new annual review.
3. Made my agreed payment to show willing to engage.

So, I've done all 3 and have been told that there isn't enough time to cancel and the hearing will still go ahead.

Feeling a bit annoyed!

My main issue with BR is my job and that I currently have vehicles through work on a salary sacrifice scheme.

I pay for mine and my wife's as she doesn't earn as much but both needed reliable and safe cars.

The cost to me is offset by her covering some of the other usual bills so technically I'm not out of pocket for hers.

I do not own the cars and they are not mine or an asset in the sense of I could sell them etc..

I'm tied into a contract for 3 years as part of the agreement.

I have no other assets to speak of - gave up drinking to save a few quid but never mind.

Can someone advise where I stand in terms of the salary sacrifice issue?

Many thanks.

[email protected]

  • Jr. Member
  • **
  • Posts: 15
Re: IVA Company going for my bankruptcy
« Reply #1 on: Dec 08, 2015, 04:23:46 PM »
Hi sorry to hear about your circumstance you should consider filing for bankruptcy with a different company.You can do this but need to act fast.

[email protected]

  • Jr. Member
  • **
  • Posts: 15
Re: IVA Company going for my bankruptcy
« Reply #2 on: Dec 08, 2015, 04:46:10 PM »
Also you can present a Debtors Petition, how much is your current debt level outstanding?feel free to [** sorry, no personal contact invitations allowed **] [/font][/size]