IVA Disaster or Saviour any experiences

taplady

missymugwump wrote:

Well you raised a few of my hairs,it is not something we have done lightly.
I have beenwith CCCS for 5 months repaying my debts but without a line drawn under all our debts it was too little too late.
We have a disabled son so me working for someone else is out weve tried it,it end in tears.
We run a business that we basically put too much pressure on and took too much out,what we should of done is faced this years ago but like most people we keep hoping things would get better.
I believe that this route gives us a chance to rehabilitate and learn to manage better we will be able to carry on trading and as my husband has a job for another company full time he would be dismissed if he were declared bancrupt.(its in his contract due to the nature of is work)
Yes 5 years is a long time and who knows but if the end result of the IVA is bancrupcy if we fail or bancrupcy now what have we to loose by trying.
Some of our creditors are people we have dealt with and built relationships with they will only get 30p in the pound on there debts as it is.
I need to be able to sleep at night.

I must say I agree with you, surely its better to try and pay some back if possible? at least you're trying to do your best and not just walking away from the debt. I know bankruptcy is some people's only option but if CCCS think IVA is suitable then it must be ok for you. We are doing the same thing and are 8 months into ours with no problems yet. I hope it goes well for you!;)