New to this

[Foggy]

I was under the impression bankruptcy got reported in the newspaper? I hope that iva is the most sensible route and I've told my sister who is very good with money and was actually very understanding that this had a lot to do with my ex and has suggested if I got accepted and kept it up for a year she'd pay f+f and I could repay her. The only bit that really worries me is that currently I own my own car but if it goes wrong in next 5 years it's getting another one but I'll just cross that bridge later also my income fluctuates monthly between housing benefit and overtime. If I do overtime they deduct my benefit by about the same amount. Would I need to declare this every month or would they be able to see that in yearly review?

BR only gets posted in the London Gazette (Online) I believe ... unless it is in the public interests or you are a superstar (or a cast member in Coronation Street).

With regard to the income fluctuations I would explain this to the IP and work out some arrangement / agreement in this regard (in writing) up front, so no-one has any surprises --- it would still have to be declared avery month, to keep the audit trail in order, but, with some formula of sorts agreed in advance, should soon become second nature.

[Lisa Thomas]

Bankruptcy used to be advertised in a paper in your local area but this is now discretionary and as Foggy says is not normal practice.

If you sister is willing to gift you a lump sum then you could do a one off lump sum IVA and have it done and dusted within 6 months.

Or you might want to consider doing a deal direct with your creditors form those funds and avoiding an insolvency procedure altogether.