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Posted: Tue Mar 01, 2011 7:47 pm
by vickster35
Has anyone gone bankrupt after an IVA and if so what has happened to you have the baliffs been round etc? what have you been left with??
Posted: Tue Mar 01, 2011 7:55 pm
by kallis3
Skippy went bankrupt after an IVA, Julie's husband did as well. The bailiffs won't be round. You may have to pay an IPA for three years and your credit rating will be shot for a further six years, but your debts will be totally written off.
Have a read of Skippy's blog.
Posted: Tue Mar 01, 2011 8:09 pm
by Shining
I agree that Skippy's blog is comprehensive and may help you. All the best whatever you decide. x
Posted: Tue Mar 01, 2011 8:13 pm
by vickster35
apologies for my ignorance whats an IPA?
Posted: Tue Mar 01, 2011 8:18 pm
by kallis3
An income payment agreement. If you have more than £20 a month disposable income after your normal bills have been paid then it has to be paid across for three years. The allowances are more generous than an IVA though.