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RHB
Senior Member
1159 Posts |
 Posted - 16 January 2010 : 17:19:19
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| I was thinking the same thing Skippy, much better if he could avoid going BR |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 16 January 2010 : 17:25:29
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Hi leen
agree with last two comments
speak to all of the experts to the left, however i would encourage phone call to paul @ reviva, he may have a package and option that may allow you to avoid BR, gotta be worth a call
regards Richard |
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leen.ow
Starting Member
31 Posts |
Posted - 16 January 2010 : 17:38:04
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Skippy, I haven't taken any professional advice, just done a lot of research on this and the IVA forum as well as official websites. I want to go BR so I can have that debt free feeling as soon as possible. I don't want to pay £400 a month for 5 years, that's only 24k anyway, and I don't want the constant scrutiny of an IP for 5 years. Another reason is that almost half my debts are joint and I begrudge paying it all back when she isn't paying a penny (besides, knowing that she will become solely liable when I go BR kinda makes me smile!). So yes I have looked into other options, but I have no assets to lose and I just want a fresh start :)
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RHB
Senior Member
1159 Posts |
Posted - 16 January 2010 : 18:29:37
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| You will have an IPA for 3 years remember & the OR has wide ranging powers to look into your affairs. Becoming bankrupt to spite an ex spouse will not necessarily be looked upon favourably either. |
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leen.ow
Starting Member
31 Posts |
Posted - 16 January 2010 : 18:45:05
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Indeed. The quip about my ex was mainly for humour and is certainly not my primary motive for going BR, and certainly not something I would say at court or to the OR. Like I said, it's all about drawing a line under the past and starting afresh, and an IPA for 3 years seems much more appealing than an IVA for 5 years probably with a higher monthly payment too. I think an IVA is great if you have assets to protect, but I have nothing, so it just seems the best option, certainly from what I have read of others on here.
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I have been running away from large debts
