www.iva.co.uk

rae25 wrote:

I was under the impression bankruptcy got reported in the newspaper? I hope that iva is the most sensible route and I've told my sister who is very good with money and was actually very understanding that this had a lot to do with my ex and has suggested if I got accepted and kept it up for a year she'd pay f+f and I could repay her. The only bit that really worries me is that currently I own my own car but if it goes wrong in next 5 years it's getting another one but I'll just cross that bridge later also my income fluctuates monthly between housing benefit and overtime. If I do overtime they deduct my benefit by about the same amount. Would I need to declare this every month or would they be able to see that in yearly review?

BR only gets posted in the London Gazette (Online) I believe ... unless it is in the public interests or you are a superstar (or a cast member in Coronation Street).

With regard to the income fluctuations I would explain this to the IP and work out some arrangement / agreement in this regard (in writing) up front, so no-one has any surprises --- it would still have to be declared avery month, to keep the audit trail in order, but, with some formula of sorts agreed in advance, should soon become second nature.

Bankruptcy used to be advertised in a paper in your local area but this is now discretionary and as Foggy says is not normal practice.

If you sister is willing to gift you a lump sum then you could do a one off lump sum IVA and have it done and dusted within 6 months.

Or you might want to consider doing a deal direct with your creditors form those funds and avoiding an insolvency procedure altogether.