Whats the difference in that first year compared to the next 2?
My husbands credit is wrecked for that long anyway as his IVA is for 6 years thanks to Northan Rock and then its a year after that its off your file i believe.
There is no difference payments wise. After twelve months you become a discharged bankrupt and drop off the register. The six years bad credit will start again from the date you are declared bankrupt.
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
Cheers, i have heard though the payments are bad and they leave you with nothing, although thats what we have now really. Also the lady from BE who spoke to my husband yesterday said that even with bankruptcy the debt to his ex wouldn't be written off so no idea what to do.
As far as I am aware, the payments are certainly no worse than those in an IVA although the rules have just changed, and the allowances are more generous.
However, I have no idea about the debt to his ex wife. Your other debts would be written off though.
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
Hi - on my paperwork my IP is called the "supervisor". It took me a while to make the connection! So if you can't find anyone named as an IP look for whoever is named as your supervisor. Persevere and you will get this sorted one way or another. Victoria, how far thru your iva are you? X
