Get expert opinion. This is the place for new questions to be posted.
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ginger3232
- Posts: 2610
- Joined: Tue Jan 11, 2011 4:06 pm
- Location: United Kingdom
Shirtydawn - Most of us on here that have been through an IVA - felt ashamed of our position. However Life events change (ie divorce/relationship problems etc etc) which can throw financial affairs all over the place.
Main thing is you should be proud that you have the guts to take hold of the debt and deal with it.
IVA is NOT easy and there be a few blips on the way and sometimes it better to draw a line under this and then move on with your life.
As Mel has mentioned,Bankruptcy does NOT mean no Bank account, true you may be restricted on the types of account - but heck as long as you have a basic account - you can get on with other things.
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shirtydawn
- Posts: 6
- Joined: Wed Jul 20, 2011 11:15 pm
- Location: United Kingdom
thanks,i didnt realise i could still have a bank account,but someone mentioned having to pay £750 to do bankruptsy,i just dont have that kind of money.iv spent 8 years paying back as much as i can afford with CCCS and IVA just hoping when i finally get to talk to my IP that he will be able to help me. thanks to all of you that has responded,i keep forgetting that im not alone!
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ginger3232
- Posts: 2610
- Joined: Tue Jan 11, 2011 4:06 pm
- Location: United Kingdom
You need to let the IVA fail - you can do this by not making payments (save the money from that) once the IVA fails then to can apply for bankruptcy.
However do discuss this option with your IVA company
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Dee.95
- Posts: 7
- Joined: Mon Jul 18, 2011 7:30 pm
- Location: United Kingdom
I think that's what i hate most, is not being able to do things with my son, especially with the hols looming!! Why should my problems affect him? You've tried so hard for so long just keep what's important in mind. Does it matter if you're bankrupt but CAN take the kids to the latest film or on a trip somewhere? If you're more relaxed and happier you're life will be too!
You are not alone
34 months down
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ginger3232
- Posts: 2610
- Joined: Tue Jan 11, 2011 4:06 pm
- Location: United Kingdom
You may find even with Bankruptcy - money is very tight - as disposible income over £20 may be go in a Payment Order.
Its is far from an easier option - but it may just mean you can draw a line under the debt and move on.
As always do your reseach to make sure this is the right option for you.
