IVA rejected now being made Bankrupt

[Blossomflowers]

Can anyone please help me through this I feel totally ashamed and scared. I was advised by the Business Debt Advisory to apply for an IVA, all creditors agreed bar HMRC, sadly they had the majority. My Insolvency practice were stunned as they said it was an excellent offer, but seems not reasoning with them, So they are declaring me bankrupt, court case on the 21st. I taken some advice but am still very confused. My house in in negative equity, and I have a child under 16 so have been told they will not take my house unless things change. Also car is my only other asset but worth less than £2000. I am self employed and am told that I can carry on working to support myself and my son. Is there anything I should be doing right now, is there anyone out there who has been through something similar.

No I am with Nat West atm. Never banked with Barclays, will be opening the account next week. Also does anyone know would the IP accept me paying something into a pension?

Thanks South I hope I will be able to have a debit card as need that for business. I actually contacted Co op yesterday but they told me I could not have an account until I was discharged.

I didn't have a debit card for a year, it was a bit of a nightmare with things like petrol. But it does get easier and it does get better.
My biggest problem creditor was also HMRC, it was their 'overpayment' and vile attitude that tipped the iceberg.

Sounds like your in control and prepared as much as you can be. It's scary to make that jump, but it is a fresh start. Good luck in court

Nicole, HMRC for me to, They are total assholes, my insolvency practioner were god smacked when they rejected to VA, but apparently they are known for being bloody minded. Now they are not going to get anything. You are right they are vile, it is almost as if they enjoy peoples misery, I ended up on Anti Depressants partly due them and had a mental break down. I will survive this thanks for the support, it is good to talk to people who been through it.

The Co-op won't give a basic bank account to an undischarged bankrupt but if you apply and get the account opened before the bankruptcy happens then they allow you to keep it with full debit card and internet banking. So you'd have to apply ahead of the bankruptcy and not mention anything about bankruptcy during your application (this is fine because the bankruptcy process only occurs once you're declared bankrupt in court).

It's very short sighted of them, why would they not take your offer and go for nothing instead. "Ha that will teach her".

South wish I had known that, too late as today is the day, wish me luck. Nicole exactly they would have been paid in full in 2 years and also collecting this years tax as we go. Bizarre behaviour but then government bodies are always great at wasting money. Right off to clear out my bank account to keep us going for a couple of weeks.

Good luck, remember they've seen it a hundred times before and will again. X

Thank you, I am off to the hair dresser as a last treat, can't bear sitting here on my own.

Good luck today

Well bank account empty. We have bit to live on for next couple of weeks.

Did it go ok?

I am aware that the rules have changed a bit since I was declared bankrupt but really it was the best way out of a dreadful situation for me. HMRC never do deals, I had offered ?900 per month on an IVA which ws rejected by them, I was made bankrupt and required to pay ?300pm. As my private bank account was in credit and the bankrupcy business related my bank didn't freeze the account and let me carry on as usual, it was just that there was no overdraft facility. Official receiver reminded me that school fees are an essential, so I didn't have to take the children out of private school - which I had planned to do with the IVA.

I am beyond livid, hase just got back and Insolvency practioners called and left a message with my 15 year old son and told him I am bankrupt and to call them. What the fuck surely this is confidential

Would someone care to comment on this, I have been fuming about this all weekend. Is it because I am bankrupt ( still nothing writing) my privacy is not taken into account. Before this happened any organisation that called re financial matters would do a identity check before discussing anything, let alone telling a child his mother is bankrupt.

No idea Blossom but I would be livid too. I would question asap tomorrow. Confidentiality is important and I can't see why this is any different at all. Really cross on your behalf. I am sorry that you are going through such a crappy time atm.

Would someone care to comment on this

Getting arsey with people on here isn't going to help.

They shouldn't have told your son you were bankrupt however, it might be a blessing in disguise - how did you plan to keep it from him?

You could kick off with them tomorrow but it won't change the facts.

Hopefully the worst is over now if the bankruptcy has been finalised- its hopefully just a matter of time now until it's over- good luck.

Blossom flowers, bankruptcy is a matter of public record - anyone could check the Insolvency Service website for your name.

By the way the £1 thing for a property doesn't happen any more.

Bear I am not getting stroppy with anyone on here, just annoyed with them as told my son as I do not think it his their place to do so. Am not looking to change the facts but why worry a child who can not change anything. You have an odd way at looking at things. walking true but my son does not read the London Newspaper or likely to check the insolvency record

Morning I would also like to add that thank you to all of those lovely people who have been supportive and given useful advice during this terribly tough time. It is sad some people use these boards to be vindictive and judgmental. I have spoken to business advisory service and they agree it is totally unacceptable to discuss my case with anyone let alone a child and I should make a formal complaint. Which I have and have and had a long conversatation with insolvenency people and asked for a different person to be allocated to my case so we can move forward as quickly as possible

If you were referring to me, I simply pointed out your comment of 'would someone care to comment on this' made you sound stroppy and like you were demanding to be answered.

Equally, complaining about your son being informed is fine but it won't change the fact he now knows so I'd focus more on reassuring him things will be ok, and making sure they are, than on complaining about what's already happened.

I wished you luck before and that still stands- you know where you are now if the bankruptcy has been finalised so you're on the right road- things should only improve from here on.

Please leave this thread Bear as you are being rude and not helpful, I did not come here to be baited, enough to worry about than dealing with people like you. I will repeat I was no being stroppy.

Biggest problem seems to be getting the right documentation to open a bank account. Passport expired as know would not be using for a while and just found out driving licence has expired and need to get a new one. What a nightmare

I a glad that you managed to talk to someone about this Blossom. I think that discussing it with your son was way out of line and very unprofessional. I hope that you can indeed move forward. Take care.

I've no doubt you've decided not to listen to anything I say but if this is proving a stumbling block, from recent experience - it costs £14 and takes a few days to renew your driving licence- much cheaper than renewing a passport.