Is bankruptcy now my only option?

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nicola315

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Post by nicola315 » Wed Apr 10, 2019 1:01 pm
Im currently in an IVA arrangement. The only reason i tried to hold off bankruptcy was due to needing my car for work. My car has now died. I am unable to purchase a car (due to my credit) and as such i will in turn lose my job. Is bankruptcy my only option now?

Foggy

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Post by Foggy » Wed Apr 10, 2019 1:23 pm
You could ask your IP for a payment break to gather funds for an "eBay Banger" to get you through, or to pay for repairs to the current car.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Lisa Thomas

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Post by Lisa Thomas » Wed Apr 10, 2019 1:30 pm
You need to speak to your IP to see if your IVA terms can be amended to accommodate your change in circumstances.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

kallis3

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Post by kallis3 » Wed Apr 10, 2019 4:21 pm
I agree you should speak to your IP
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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