We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Iva Or Stay Bankrupt
mistamac
Posts: 5 Forumite
Hello,
2 years into a five year bankruptcy and my circumstances are about to change due to a career change.
I've been reading up on the fast track IVA to anul the bankruptcy. Is this a good idea or should I sit tight and pay nothing for the next three years?
And yes it is my second banlruptcy, i learned nothing from the first one.
2 years into a five year bankruptcy and my circumstances are about to change due to a career change.
I've been reading up on the fast track IVA to anul the bankruptcy. Is this a good idea or should I sit tight and pay nothing for the next three years?
And yes it is my second banlruptcy, i learned nothing from the first one.
0
Comments
-
You circumstances are unusual for this board (which is really saying something - no insult intended though) but my first thought is to stay bankrupt. Getting it annulled will not get over the fact of having been bankrupt the first time around. As for paying nothing for three years, if your income rises should you not tell the OR and begin to make payments?
Regards
XXbigman's guide to a happy life.
Eat properly
Sleep properly
Save some money0 -
Hiya,
I take it you went bankrupt before the newer legislations came into practice. Or are you bankrupt longer due to having been through it before.
I'm bankrupt myself, and my honest opinion would be to stay put. It would be far more beneficial to you in the long run.
And, no disrespect, hopefully you've learned from it this time, and don't ever have to go bankrupt again.
HKMember No. 10 of the "104 free previews in 2008" club! 101 to go.
Official DFW Nerd Club - Member no. 0520
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.8K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.6K Work, Benefits & Business
- 604.6K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards