Family reluctant to let me go bankrupt.

peachyprice

As you have no assets to protect an IVA wouldn't really be the best course of action.

An IVA is recorded on the Insolvency Register just the same as bankruptcy, and is only very marginally better than bankruptcy as far as your credit files and your families concerns go.

If you do enter into the IVA and it is not realistically sustainable you will be back to square one, having paid alot of money to Grant Thortnton and probably next to nothing off your debts.

Please, think long and hard before entering into an IVA, they are not the saviours they are made out to be and many members here are now going BR as the result of failed IVA's that were unrealistic from the outset.

SaintsFan67

I'm going to get a second opinion on this and maybe talk to the CCCS bankruptcy advisors first before making any decision.
Gut feeling is that people on the BR board are happier than those on IVA's.!!

lornio

i would give the cccs another call on the bankruptcy help line they are more in the know you can ask to be put through to them from the main line it sounds like they did not have enough info to give you a proper plan of action. also it is my understanding that you go bankrupt from the addresse you last lived at for six months my friend went br after moving house but the br was from her previous addresse anyway, may be nothing you can do about that, unless you wait six months at a new addresse..... just a thought of mine but i would deff try cccs again and ask to speak to the br team x x

jellygirl_2

And an IVA is a financial committment for 5 years! Thats a long time - at least if you end up paying a IPA after BR its 3 years max.

SaintsFan67

Thanks jellgirl. I just read your BR story. 3 years if better than 5 for sure.