Possibly Daniel, depending upon your circumstances at the time. This should have been discussed with you when you first enquired. However, I appreciate that, in those early days, it's a bit of information overload!!
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
The vast majority of us on here are either in an IVA or have completed one.
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
Just over three years, own my own home with equity which I would have lost in BR and I wanted to pay back as much as possible to the creditors.
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
It's all down to personal preference. Both my OH and me are just going down the route. I could possibly opt for bankruptcy but OH wants an IVA for certain reasons. Whatever we decide it's from a month of using the forum and speaking to our IP. It's easy to say you should have gone BR but I would say that now you are in the IVA you should try to find a way with your IP to follow it to a conclusion. If you really can't afford it then BR may be the only option. Why don't you try speaking to a couple of other companies to canvas their opinions?
I don't mind you asking - I'm with Payplan and pay just over £350 a month. I have an equity release clause after four years and I can't release any then I continue on for a further twelve months.
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
If you decide on BR then there are people on here who can advise you with the forms.
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 must admit I had a look at the bankruptcy forum as well when making my consideration but every time I do I get scared and come back to the IVA route!!! I'm going to let Michael take a look at all our paperwork and guide me as I go from one decision to another!!!
I have been in my IVA for 5 months ( so a newbie). I have no property to worry about, so could have easily gone BR. Unfortunately I am of the mindset that I took the money and so should try to pay back as much as possible, hence the IVA. I pay £444 per month at the moment, but over the 5 months have made extra payments from a second job and have paid about twice that. My predicted dividend is about a third of my debt. If the second job keeps going well it might get up to a half or more. We shall see.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
