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Posted: Wed Sep 28, 2016 6:01 pm
by Santa
Hiya!
I am in process of applying for IVA, but before I sign the papers I wanted to know if bankruptcy was not a better option...Advisor I spoke to, quickly ruled bankruptcy out but I did not receive clear answers of pros and cons.
Posted: Wed Sep 28, 2016 6:16 pm
by kallis3
Hi and welcome,
If you have assets to protect (such as a house) then bankruptcy is probably not the way to go.
Please speak to more than one company - Vincent Bond (details under ask experts a question link) can be contacted for some free advice
Posted: Wed Sep 28, 2016 6:52 pm
by Michael Peoples
Get a second opinion from another IP firm in case you are being directed wrongly. Many firms pay commission or their independence is compromised.
Posted: Wed Sep 28, 2016 8:51 pm
by Foggy
I always advise chatting to a few companies to compare advice. BR could be a better option if you have no assets to protect and your job doesn't rule it out. You will pay a little more ( the allowances aren't as generous), but over three years if you get a request for payments.
Posted: Fri Sep 30, 2016 3:30 pm
by Lisa Thomas