I am sure you have received some great advice from Tina. From the details you have given, both the IVA and bankruptcy options may well be open to you. As you have no assets then bankruptcy would ceetainly seem the quickest way for you to get out of debt as you would potentially pay for 3 years compared to 5 in bankruptcy. Good luck with your decision.
I am glad that Tina has been able to assist you with understanding a little more about the options that are available to you, and that you will be able to make the right choice for you future and get away from the mounting debt pressure. Good luck with whatever route you decide to take.
regretfully i think that my best option would be to go down the bankruptcy route but can anyone recommend a company that can help me with my paperwork because i don't want to make any mistakes and get it refused at the court.
Jamie. you may find companies will charge you vast amount of money for this - some of the posters on here have gone done the BR route - so it is well worth asking the forum for imput /help if you need it - i am sure people wont mind helping out (and saving you money)
You can ask for advice on filling in the forms on there and it will cost you nothing for that advice.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
i know there is a lot of information on here and i think it is brilliant but seeing as bankruptcy is a life changing process i want to make sure that it is done correctly and i have professional advice by someone who is licensed to give advice and who has experience.
hope you guys understand and don't think i am being unappreciative.
You could have a look at Skippy's blog as she has been through bankruptcy and there is some useful information on there.
Even if you go onto the sister site, you can always ask away on here.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Some I do at home - I spend most of my spare time on here and I post via my phone whilst at work.
I don't know that much really and what I do know has been gleaned from this forum and my own experience of being in an iva.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
wow i assumed you were or have previous experience as a debt advisor or have worked in the financial industry before. this forum obviously is a gold mine of information.
My parents are the ones that will be paying the fees that come with my bankruptcy and they are adamant that i speak to a licensed debt advisor and have them guide me through the process even if a fee is involved.
when they say a licensed debt advisor can anyone shed any light on what they mean?
In terms of paying for help with you bankruptcy paperwork I can chat to you about that if you want. Whomever you do chose to help you make sure you are not paying over the odds. I suggest that you should not be paying more than £300-£350 for the service.
You are quite right to point out that many people will be very happy to complete their bankruptcy forms very well without any outside help Paul. However it is not the case for everyone and many people do need help. I agree that the CAB is a good place to start but unfortunately many CABs do not have the resorce to be able to offer this kind of assistance. People can also get free help from on-line forums like this and others and many do. However at the end of the day the option to pay an expert for help and suport is available. If someone wants to go down that route as long as they are fully aware of all of their options, I feel it is their choice and perfectly reasonable.
