IVA v Vol Bankruptcy please help!!

nunny_2

hi everyone

am new to this, so any help would be gratefully recevied.

i have had an IVA for two years and pay around 600 pounds each month, never missed a payment and it works well apart from paying in extra money for overtime and bonuses!! but two days ago i got a phone call from a company saying i should go into voluntary bankruptcy?? i have no assest, home or car, and the company said that for £500.00 and court fees i could halve my payments to 250.00 a month.

am confused? my iva works well and i can afford it but i would not mind saving the money and the freedom of no annual review. also have been told that when in an IVA if i get married , my partner has no debt, her income will be considered, what should i do? will i lose my bank account if i go bankrupt? how will my iva company view me , i.e. will creditors get back in touch etc??

am totally confused, please help??:j

debtinfo

It is not simpy about the payment, there are much bigger concerns with bankruptcy than just the amount you pay. The company that contacted you simpy trawls the insolvency register and cold calls people. They have no knowledge about your situation at all and do not care what the consequences are for yourself, just that they get their £500 fee.

Generally if you can afford the payment and are two years into an IVA then you should continue. The idea of an IVA is to pay as much as you can back to your creditors whilst getting releif from any action against you