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T O P I C R E V I E W
cpharo
Posted - 23 July 2009 : 13:16:02 Hi,
I would be grateful someone could advise me as I am really not sure where to turn. I was considering applying for bankruptcy and have just spoken to a company called Pay Plan.They have advised me no to go bankrupt and have said thay they will set me up an IVA for £130.00 per month. I have previously spoken to the CCCS and they advised me to apply for bankruptcy so now I am not sure what one I should do. I have £27'000.00 unsecured debt and I do not own my property. Which one is best? Is there anyone that has advice who is on an IVA plan or has been in the past?
1 L A T E S T R E P L I E S (Newest First)
debtinfo
Posted - 23 July 2009 : 13:29:31 The main advantages of an IVA are to protect property(sometimes including HP vehicles)and if bankruptcy would have a detrimental effect of your earnings. i.e if you would be sacked from a job because of bankruptcy. The disadvantages are that you make payments for longer and those payments are generally higher (not always) than ina bankruptcy.
