Questions about Individual Voluntary Arrangements and Insolvency.

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By charley24
#23917 ok another point. (using false names to tellstory)

If anyone can answer

When I was 20 I entered into an admin order and it was satisfied after 2 years. (About £5000 on store cards) my name was SMITH. I never missed a payment and had no trouble.

Afterwards then changed my surname by deed poll to JONES . (this was due to other reasons - NOT to escape debt of course)

All of my debts are in the name JONES.

I got married 3 weeks ago and my name is now THOMPSON, All of my debts are in the name JONES.

Will my Bankruptcy appear in the paper etc as JONES or my married name of THOMPSON ?

Sorry if this is confusing !

I have to put my name(s) on forms and don't know if I would not be allowed to be BR because I had an admin order 10 years ago, I have to be honest with my names (I do anyways with relation to child benefit etc as you use your NI no)

Any advice appreciated!
By Mel_Odious
#23918 I see your problem Charley and it's not easy. The fact that you are still ordering from catalogues tells it all. Like so many of us the thinking goes; well I am so far in it, what's another couple of hundred. If you are thinking bankruptcy then, yes it would be wise to send recent orders back. It is not good to be buying on credit when you know you are insolvent and will have difficulty in paying.
There are only 3 choices for you;
An IVA or
and it has to be your decision.
An IVA would expect to take all your disposable income once expenses are paid and would last for five years.
A DMP gives you a little more scope with your disposable income but you would be expected to pay until all your debts are cleared. The demands and phone calls would continue for a few months but would eventually stop. You could manage the DMP yourself but you would need to be very strong and not give in to constand demands for more from creditors.

With bankruptcy, all your debts would be cleared immediately but you may have to pay a percentage, usual around 50% of disposable income in an Income Payments Arrangement that would last for 3 years, after which you would be debt free. Get Payplan to also go through these three options with you to see what they think.

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By charley24
#23937 Thanks so much Mel your so helpful!

Any advice on the above, name change scenario please hun?
By Mel_Odious
charley24 wrote:Thanks so much Mel your so helpful!

Any advice on the above, name change scenario please hun?

I should not think the admin order will be a problem.
Unfortunately, I think both latest nemes will have to be recorded in the bankruptcy notice. I know addresses wil be as it will say Mrs Jones of wherever formerly at so and so. I would think the names will also state Mrs. Thomson previously known as Jones etc
I have seen cases wher the OR has been persuaded to not include certain things like latest address for a single woman scared of her ex knowing where she is etc., so the OR may be persuaded to preclude certain details with a valid reason. I couldn't guarantee anything like that though.