www.iva.co.uk

Hello, I have had an IVA for a year now but thinking maybe not the right choice and perhaps should have gone banckrupt instead I was asked this by the company, but the thought of going banckrupt frightend me.Can someone please just explain to me in could I now go bankrupt even though I opted for an IVA, I dont own a house I rent and have absolutely no assets. Could someone please explain to me laymans terms what I should do in there opinion, and if it even can be done, also does my employer need to know, I am a receptionist in a property/auction company.

Hi foxykay and welcome to the forum

No-one can tell you whether it is better to declare yourself bankrupt or continue with the IVA. The choice is yours as it was over a year ago when you decided on the IBA route. Is there any reason why you are now having second thoughts?

And you can go bankrupt at any time if that is what you choose. The cost is £495 for the Court application and is relatively simple to process, involving a short Court appearance which should not be anything to worry about.

Hi Foxykay

A number of the Forum members here have gone through bankruptcy ... and come out alive! Skippy in particular is a prime example. You might like to take a look at Skippy's blog which will give you some insight into the 'journey' she has taken.

All the best ... and keep in touch with the Forum as we are all here to support you.

Debbie

P.S

Here is the link to Skippy's blog [:)]
http://skippy13.blogs.iva.co.uk/

Debbie