IVA to Bankruptcy???

P0kerFace

Im currently on an IVA but want to go bankrupt is that possible or am i locked into the IVA?

If i did go bankrupt what would i be left with? My job involves a lot of overtime so would i effectively be doing overtime for nothing?

kebark

never heard of anyone doing this (though it may be common). I don't think you'd be locked in, you'll have most things taken off you though.

P0kerFace

Are there any debts that can't be covered by bankruptcy? Most of my deb is because of a "tax credits over payment" would this debt stay because its an inland revenue debt and they seem to make up their own rules!!

P0kerFace

Most things? such as what? i live in rented property. I don't have a flashy car or expensive belongings.

kebark

There are some but I cant remember which, Council Tax is the only one I'm certain on. Most things basically being anything they could sell, a TV, computer, laptop etc.

P0kerFace

council tax is one of my debts, so that would stay? is there a list anywhere i could look at?

kebark

I couldn't find one, but their will be one, student debt also stays with you.

Also as your renting you may be putting that at risk too.

JCS1

kebark wrote: »

There are some but I cant remember which, Council Tax is the only one I'm certain on. Most things basically being anything they could sell, a TV, computer, laptop etc.

OR will NOT take basic household goods, your TV, computer & laptop are safe (unless of course it's a 52" plasma :rolleyes:)

P0kerFace

what do you mean? How could they touch the house if it's not mine?

JCS1

P0kerFace wrote: »

council tax is one of my debts, so that would stay? is there a list anywhere i could look at?

Council tax is included, some HMRC debts are - I think it depends on what stage the overpayment reclaim has reached? Am sure fermi or debt doctor will be along with those details in due course.

Student loans and some fines aren't included, all other unsecured debt is.

And most private landlords are fine, they tend to be more interested in getting their rent on time each month.

kebark

JCS1 wrote: »

OR will NOT take basic household goods, your TV, computer & laptop are safe (unless of course it's a 52" plasma :rolleyes:)

would have thought they'd be riseable and aren't basic goods, basic goods are clothes pots and pans surely?

This is the first list of debts I've found:
Debts connected with fraud.
Court fines, including Child support and other maintenance.
Secured creditors.
Student Loan Company debts.