Hmmm -- interesting spread of opinion here. I, for one, and I am sure I am not alone, don't feel like vermin. When I borrowed the money, foolishly or not, I was able and committed to repaying it. Circumstances conspired against me and I fell into the "robbing Peter to pay Paul" viscious circle.
I have no equity to offer, or home to lose, being in rented property, my job will tolerate bankrupts, so I could have gone down that route and might have wiped all of my debt off. But, I promised to repay when I took the money, and want to try to repay as much as possible -- simple as that.
Human nature is "to get away with as much as we can", my moral code is to "live up to your responsibilities". Being frail beings, we try to steer a mid course. Some veer over one way, some the other way, to varying degrees.
If I had an IP like Cindy's, to be honest, I might take the route she did. At the end of the day she fullfilled her "promises" made on entering her IVA, and fully complied. It was the IP at fault, to a great degree. I have made a different committment ... to repay as much as possible ... so I now have to honour that.
Now --- if this horse gets any higher I will fall off and break my neck, so I will shut up now
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014