I already have an IVA in progress presently 2 years. I am 63 gas old and have debts amounting to around 34 35000. I'm struggling financial and my outgoings exceed my income cconsiderably.i pay at present £75 per month.should I consider bankrupsy rather than calling on for another 3 yrs with my IVA ? My accountant suggests I consider bankrupsy. I have no assets and I am at present going through a divorce. The stress of all this is affecting my health too.
I would think bankruptcy should be considered although the actual costs are around £700 which would take you a while to raise. You may qualify for a reduction if you receive benefits but it does sound like a very viable option.
Speak to your IP and if not happy get some independent advice from someone like the CAB.
