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Voluntary Agreement

Voluntary Agreement

Postby iwanttoaskaquestion » Thu Apr 27, 2017 5:21 pm

Someone I know went Bankrupt in around June 2013. They have made him jump through hoops and the Bankruptcy is supposed
to have ended now. The Firm who are overseeing the recovery of money from him, through deductions from his salary has asked
whether he will enter into a "VOLUNTARY AGREEMENT" to pay a further number of thousands of £ . The question that they have
now asked me is whether he HAS to enter into a "voluntary" agreement as requested OR what the consequences are of he
either ignores or says "no" ??.

Any comments welcome.
Thanks
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Re: Voluntary Agreement

Postby atticus » Thu Apr 27, 2017 6:40 pm

Do you mean Individual Voluntary Arrangement?
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Re: Voluntary Agreement

Postby iwanttoaskaquestion » Thu Apr 27, 2017 7:48 pm

No, an actual bankruptcy. He has paid quite a lot to a firm of solicitors apparently appointed to collect money from him
under the bankruptcy . Now the bankruptcy has finished/nearly finished they want him to sign a "Voluntary agreement" to pay
more money to them.
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Re: Voluntary Agreement

Postby atticus » Thu Apr 27, 2017 8:00 pm

Do they say what the alternative is, i.e. what may be done if he declines?

He needs to get someone to look at this. Maybe a CAB debt adviser.
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Re: Voluntary Agreement

Postby blig » Fri Apr 28, 2017 3:44 pm

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