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?
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.
Hi,I would be grateful someone could advise me
Posted - 23 July 2009 : 13:16:02
