www.iva.co.uk

Hi,
Now i know an IVA is not an option for us, i have questions i am hoping some of you may be able to answer about going bankrupt.

If me and my husband decided that bankruptcy was our best option how much would we have to pay each month if we had little or no income left after bills, food all other necessities.

loulou5

If you have no surplus income, then you do not pay anything.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Thankyou Melanie.

I am confused about the time involved with bankruptcy.
Does it last 12 months or 3 years?


loulou5

Hi Loulou,

I have just petitioned my own BR last month, you are discharded after 12 months howver you may have to pay what the OR decides for upto 3 years (ie disposable income).

(I apologise for my keyboards poor spelling and grammar)
http://coco.blogs.iva.co.uk