A question about bankruptcy

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  • fatbelly
    fatbelly Posts: 20,492 Forumite
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    I agree.

    An IVA will require a fair monthly payment, I'm not sure how much you had in mind. A rough calculation says £200-220 as a minimum monthly payment.

    There is not so much flexibility if you have to give up your job and lower your payments.

    But it is a legally binding agreement and stops enforcement action.
  • Norfolk_Jim
    Norfolk_Jim Posts: 1,301 Forumite
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    Thanks for that Information, I will go and look into that as I could currently make the kind of payment you suggest or perhaps a little higher
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