What is the point of IVA? why not make arrangements your self?

memberme

Bankruptcy is no easy option. And it stays on your credit file for more or less the same time as IVA.
As mentioned above the main safeguard of an iva is the legal agreement such that creditors can't chase you, it doesn't matter what interest they say they are charging..they get what was agred and that's it. Creditors should elave you alone

milothewestie

i looked at an iva went to see an insolvency practitioner who told me i was insolvent and i declared bankruptcy on his advice,kept my house(only small amount of equity in it) have an income of 2200 a month pay nothing towards the bankruptcy,for people on here with no assets ie dont own there own home my advice is dont worry about your debt,stop paying your creditors save your bankruptcy fee and go and do the deed,easy debtfree,not many ors put your name in the paper nowadays so not everyone knows your business either, anyone want any questions answering pm me ill do my best to answer them im no expert but bankruptcy is a good way out for those who cant really afford ivas and really nothing to be afraid of