www.iva.co.uk

Hi we are a lot of debt from years ago that has caught up with us. We both have a steady income up no means wealthy and with the extent of it we are thinking of going bankrupt or we would be paying this till we are in our 80,s

We are considering fostering would this ruin our chances of going forward

Hi and welcome,

I have no idea how anything would affect fostering.

I suggest you speak to one or two companies for some free advice.

Andy Davie/Vincent Bond (details under the ask experts a question link on the left hand side of page) can give you some free advice.


Speak to CAB about the implication on fostering.

I wouldn't whilst I'm an iva. The fostering process does not look at financial stability as such but anything paid to you will be seen as income by the iva company (this has been on the board before).

Under those circumstances I would be questioning whether I am doing the right thing for the child who may be fostered.

I am unable to advise you without a lot more information as to whether Bankruptcy is the right option for you to sort your debts.

i.e what are your debts? Do you have assets, such as a home to protect? What is your net disposable income. How many creditors do you have?

There are other options available and an IVA could be the best route for you.

Happy to chat this through in more detail _ I can then let you know what I think is the best way for you to deal with your debts.

I cannot comment on the fostering application process and would recommend you research it as its outside the remit of this forum.