www.iva.co.uk

I'm 27 nearly 28 years of age. I work full time at the moment and I've been thinking a lot latley about going to University as I'm not happy doing what I'm doing.

I'm nearly one year into an IVA with four years left to run. Can anyone tell me if there's anyway I could cancel or come to some arrangment with my creditors/IVA people that will enable me to stop making payments so that I can attend Univeristy now, rather than in 4 years time when I'll be 32, or would I have to consider bankruptcy?

Marc,

If you live in rented accommodation and have no significant assets, bankruptcy might be the right option, as creditors will not agree to you suspending your contributions for the period you are at university, which is likely to be three years.

If you want more information on bankruptcy, the Insolvency Service has published "A Guide to Bankruptcy", which can be downloaded from their website. Your IP should also be able to advise you on your options.


AccumaGroup - A large insolvency practitioner service based in Manchester.
www.accumagroup.com

Thanks for getting back to me it's much appreciated!