Could anyone please advise? RE Bankruptcy

[StinkyFeet]

Hello all,

 

Am in bit of a pickle and am hoping you guys and girls once again can advise what I could do.

 

To narrow down a long rocky road, I got into financial problems when business I had went under in 2005 thanks to stealing staff. I entered in to a IVA in Jan 2006.

 

This failed in late 2008 when I couldnt keep up payments to it and my IP ignored all requests for help in possible reducing payments etc for a bit.

 

Said IP filed for my bankruptcy in Jan 2009 and was automatically discharged in Jan 2010.

 

I have a small taxi business, 3 cars, 2 of which where on HP and both the finance co and OR was happy for me to keep them due to them being tools of trade and the fact that the vehicles where worth less then outstanding finance.

 

Now this is where things are getting awkward, 2 of these have about had there day and are seriously in need of changing but I cannot get HP anywhere, even from previous completed / satisfied HP company. I was looking at part exchanging these towards them which would reduce the cost a third.

 

It seems unfair that the IVA is due to fall of my file in Jan 2012 a long with associated debts at the same time but the bankruptcy for the same debt will sit on there for a further 3 years, basically making me and my family suffer for around 9 years in total.

 

Without the help needed at this moment in time the business will go into the floor and put my father, me and my wife out of work.

 

Is there anyway or anybody I could speak to, to see if I can have the BR leave the credit file earlier?

 

Thank you so so much

[liquidauctions]

A simple answer will be no. The information will be up there for 6 years from the date of bankruptcy. The only thing you can do is see if you can get a partner in and get the finance on his/her name or go to auction and buy cash. A few years ago I went to Carcraft to buy a car, 2004 vectra diesel for around £7000 it had 60k on the clock. I didnt buy it and checked an auction and picked the same car with 62k on the clock for £1900. My advice is leave the credit alone and scrape 4-5k together and get a 3 year old car, It will be harder to get finance than it will to whip around and gather the 4-5k