www.iva.co.uk

Daft question? But what exactly happens when people go bankrupt? I know they apply and there is a court fee but how long does it last and during this time do people still have to pay money into thier debts.I mean the IVA works over 6 year period? If bankrupt how long do people keep on paying into thier debts~? Or do all the debt go with the bankruptcy? Do I make sense?

Have a look on here, covers just about everything,

http://www.insolvency.gov.uk/freedomofi ... nindex.htm

If you are required to pay monthly contributions under bankruptcy proceedings, there is a maximum time period of three years.