OMG! Is there an alternative?

gizmo111

OffGridLiving wrote: »

That's what I was thinking as an alternative to an IVA. The poster's pension would be safe as it cannot be touched by the OR.

No disrepect to the poster, but he seems more intent on hiding from these debts than addressing them? Often this is the reason people get into serious debt difficulties in the first place. Personally I'd much rather get all my debts onto an IVA and make token payments for 5 years with little or no hassles than to spend 6 years trying to dodge creditors in the hope that they get bored and go away. Some will, and some won't and once they get you to acknowledge the debt (i.e. in court), then the clock resets for another 6 years.

IVA's are not token payments, and they only suit the minority with assets/career to protect.

OffGridLiving

gizmo111 wrote: »

IVA's are not token payments, and they only suit the minority with assets/career to protect.

There was also a discussion about bankruptcy, which will also only work for a number of people. The point I was making was that trying to dodge debt until it becomes statute barred is not a healthy strategy for someone who wants to deal with their debt - that's often how people get deep into debt in the first place.

Do you disagree?