Skippy went bankrupt after an IVA, Julie's husband did as well. The bailiffs won't be round. You may have to pay an IPA for three years and your credit rating will be shot for a further six years, but your debts will be totally written off.
Have a read of Skippy's blog.
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
An income payment agreement. If you have more than £20 a month disposable income after your normal bills have been paid then it has to be paid across for three years. The allowances are more generous than an IVA though.
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
