IVA or Bankruptcy? Or is there another way for me?

lex_1971

So if I go bankrupt does that mean I won't have to pay my creditors anything at all? And how long would it be before I could get a mortgage?

Thanks

Lex

CLAPTON

no, it all depends upon the details
in bankruptcy to may be required to have an IPA/IPO ...basically an order to pay a certain amount of your 'surplus'income to your creditors for 3 years.

Money-come-lately

I think with debts of nearly 50k it would be better to go for bankruptcy and write it all off. It would be a real relief I bet after you did it !!