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    • Annalise1234
    • By Annalise1234 29th Sep 17, 3:49 PM
    • 13Posts
    • 1Thanks
    Help IVA failed is bankruptcy the only option
    • #1
    • 29th Sep 17, 3:49 PM
    Help IVA failed is bankruptcy the only option 29th Sep 17 at 3:49 PM

    I have due to failed relationships and being a single mum got myself in to debt of nearly 50,000, I have been dealing with Step Change since February and have tried to set up an IVA - but IKANO and Barclays refused my offer (advised by step change) and wanted another 200 per month as to what we were offering and could afford and to extend the term to 7 years. Step change have advised I go bankrupt as I have no assets , at the moment I am paying each creditor 1 per month and have 80 to pay before going bankrupt. A colleague at work advised there must be other options and to post here for advice - I just don;t know what to do and what other options I have if even Step Change couldnt help. Any advice appreciated
Page 2
    • sourcrates
    • By sourcrates 11th Oct 17, 10:28 AM
    • 14,304 Posts
    • 13,517 Thanks
    Debt management companies try and sell IVA!!!8217;s to people like you so they can benefit from the fees associated with the arrangement.

    They will say anything to gain a sale.

    In Bankruptcy your budget determines any IPA, not hearsay from a salesman, if you have more than 20 disposable income you will most likely get an IPA, but based on what you can afford.

    The people at these debt management companies are sales people yes, not debt advisors, they are best avoided.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to Any views are mine and not the official line of

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see :
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