You need to speak to an expert with regards to this - why were you advised that BR was the best option and by whom?
What are your total debts and do you have any assets to protect?
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
I would recommend a quick chat with an IP and would suggest you contact one of the small to medium firms that regularly post on here. The larger firms will use less experienced staff to answer the phones and it may well be difficult, if not impossible, to speak to somebody suitably qualified.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
The IVA has to be approved first before you can apply for an annulment and the process can be expensive. You need proper advice so urgently speak with an experienced IP.
I am assuming as well (correct me if I'm wrong Michael) that the Bankruptcy will still show on the credit record for six years even if it's annulled?
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
Any reference to the bankruptcy should be removed once it is annulled as it effectively means it never happened in the first place. It is similar to a marriage being annulled in that it means you were never married in the beginning.
Realistically though there may not be the greatest difference between an IVA and a bankruptcy when it comes to your credit file as both severely damage it for six years. However if your bankruptcy was annulled and you were asked the question 'Have you ever been made bankrupt' then you could justifiably say no.
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
Why do you now think an IVA will be better for you?
If you have been given poor advice you may wish to make a complaint against the party that advised you.
It's possible to put an IVA together and have the BKY annulled, which is what I am in the process of doing for a debtor at the moment, but the costs of BKY will have to be paid for/dealt with in some way and it will not be cheap.
