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IVA or Bankruptcy
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Hi. All advice gratefully received.
I am currently considering the pros and cons of IVAs and Bankruptcy. I do not own a house, my car is only worth £2k and I do not have any other valuable assets. My debt is around £37k. Using the CCCS Debt Remedy tool I have a monthly surplus of about £350. I am aware of the slight advantages of IVAs regarding Credit Files and there's something to be said for clearing some of your debt. But, Bankruptcy would allow me to make a fresh start sooner. Any recommendations out there?
I am currently considering the pros and cons of IVAs and Bankruptcy. I do not own a house, my car is only worth £2k and I do not have any other valuable assets. My debt is around £37k. Using the CCCS Debt Remedy tool I have a monthly surplus of about £350. I am aware of the slight advantages of IVAs regarding Credit Files and there's something to be said for clearing some of your debt. But, Bankruptcy would allow me to make a fresh start sooner. Any recommendations out there?
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Comments
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I've tried the IVA route with CCCSVA.....but circumstances changed, got a variation...then circumstances changed again..so am now going to petition for my BR.
If you have no assests, do not own your own home an cannot guarantee being able to financially commit to five years of payments I would recommend BR.0
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