Posted: Thu Feb 21, 2008 7:34 am
My partner and I have entered into a joint IVA but now believe that we were given bad advice as we do not own our home and have no assetts. We now believe that bankruptcy is a better option for us. My partner has just been told that he has not been paying enough to the child support agency and his payments will increase by around £300 a month for the next 2 years to clear the debt. We dont think that a reduction of this amount to the IVA monthly will be accepted by our creditors. If we stop paying the IVA will it fail and enable us to go bankrupt? We look forward to your reply. Many thanks