overdraft and iva

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kallis3
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by kallis3 » Thu Mar 22, 2018 12:25 pm
You may have to make payments for 3 years and your credit record will be shot for 6 years regardless of which path you take.
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Lisa Thomas
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by Lisa Thomas » Thu Mar 22, 2018 12:56 pm
Out of interest if you have no assets, why did you choose IVA over Bankruptcy?
smart2207
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by smart2207 » Fri Mar 23, 2018 12:24 pm
Lisa Thomas wrote:
Out of interest if you have no assets, why did you choose IVA over Bankruptcy?

yes avoiding term bankruptcy, but option still open if iva fails, but looking forward through iva setup, if it goes well and successful update, which is fixed meeting next month, will update progress, thx all
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Lisa Thomas
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by Lisa Thomas » Fri Mar 23, 2018 12:28 pm
Bankruptcy was likely to have been better for you on assumption you have 5 year IVA.
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Foggy
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by Foggy » Fri Mar 23, 2018 12:32 pm
Lisa Thomas wrote:
Bankruptcy was likely to have been better for you on assumption you have 5 year IVA.


Sometimes just down to a matter of personal choice, Lisa. When I went into my IVA, on paper, a bankruptcy would have been faster, cheaper and altogether less painful. But my intention was to repay as much as I could so I chose the IVA route.
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