i need help

tacirupeca

please can someone tell me i am in an iva after a year i strugle to make the payments and i do not get any help for my IP so iam going for bankrupcty i do not have anything to loose, so is it better that i declare myself bankrupcty or wait for my creditors to do it? thanks:j

Nargleblast

You can do it yourself - if that is indeed the right thing for you to do. Why are you not getting any help from your IP? You pay them to work for you, so they should be on hand to guide you through your IVA. You should be due for an annual review - get your income and expenditure figures sorted, contact them and see if you can renegotiate a lower payment ( they can do that if the repayment is slightly lower, but any significant reduction would have to be approved by your creditors). It's worth a try. If after all that it is still not workable then discuss the bankruptcy option - look at all the pros and cons before deciding. Also check out the Bankruptcy board and talk to people on there about their experiences. Whatever you do, don't rush into anything without having all the info you need first.