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IVA or Bankruptcy?
dubiousone
Posts: 150 Forumite
Hi guys and Gals. I have two straight forward questions that I would appreciate some views on.
Q: Are IVAs only suitable for people with assets to protect?
Q: If you don't own a home, have savings or any other asset worth anything is bankruptcy a wiser option?
I will appreciate any thoughts.
Q: Are IVAs only suitable for people with assets to protect?
Q: If you don't own a home, have savings or any other asset worth anything is bankruptcy a wiser option?
I will appreciate any thoughts.
0
Comments
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I would say 'yes and 'yes'
There may be some other reasons to avoid bankruptcy - publicity, effect on job,stigma (?).
But in dealing with debt clients, the questions I ask myself are: can this one go for an Admin Order? Can he/she go for bankruptcy? From April next year I'l be able to ask can they go for a debt relief order?
I would then consider an IVA but I rarely meet anyone for whom it is the best option.0
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