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Hi.
I'm basically in debt of £27000 or £36000 with student loans that can be added to an IVA (checked - these are the mortgage style ones).
I rent and clearly have no savings or assets. I'm about to propose an IVA for it all fo £350 per month with my take home £1265. Just wanted to check that this was sensible or ought I to bite the bullet and go bankrupt and continue to pay my student loans of £9600?
I appreciate any feedback. Thank you.

Hi there and welcome to the forum

Assuming that the IP you have chosen to represent you has given you advice on all of the solutions available to you, including the advantages, disadvantages and implications of each one - only you can decide which one better suits you.

With no assets at risk from bankruptcy, the key decider in my opinion is deciding whether you wish creditors to be repaid some money - in which case an IVA is a better solution - or if you do not care whether they are repaid or not - then bankruptcy is quicker and cheaper for you.

Please note that student loans cannot be discharged under bankruptcy proceedings.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp