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Is it true 1 in 6 people get an IPA with bankruptcy?
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Duplicate thread on the Debt free wannabee sub forum, where the OP might be better advised?If you've have not made a mistake, you've made nothing0
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Each BR is taken on it's own merit. Statistics are neither helpful or relevant to your specific situation.BrokeAndWorriedUK said:I've read 1 in 6, 1 in 8 and another article that said anyone with a job will get one.
I am struggling to see how that can be the case. Currently your debts are what your debts are. Post-bankruptcy your payments will be set at a level that is affordable. You cannot be worse off day to day.BrokeAndWorriedUK said:I am considering bankruptcy but if I wind up with an IPA it will ruin me financially more than simply paying my debts ever could.
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Duplicate thread.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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