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75 and in an IVA - should consider bankruptcy?
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I am in an IVA and at 75, my pension will just not support it due to higher cost of living. I want to go bankrupt but dont know how to and how much it will cost. I realise now that the IVA company talked me into an IVA as it is money for them and was not in MY best interests. I have no assets and simply survive on a pension. Any help please ?
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How long have you been in the IVA, please?
If you've have not made a mistake, you've made nothing0 -
Can you also say how large the debts were that went into the IVA?
You do not own a car?0 -
Hi @Davetheoldmod - we've split your question off into its own thread so the responses don't get muddled with those intended for another Forumite
Official MSE Forum Team member. Please use the 'report' button to alert us to problem posts, or email forumteam@moneysavingexpert.com0 -
It's frighteningly easy to declare bankruptcy. The question is whether you should. In addition to the other questions can you confirm that you do not own property
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Well its simple to go bankrupt, you just go to the .gov website, complete the forms, pay the £680 fee, and press "send", its more or less a done deal.
But I doubt in reality that is necessary, and your debts are actually not that bad, if you can give us answers to the above posted questions, we can try and help you sort this out.
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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