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 Worried that I will be no better off in bankruptcy		  New Topic  Reply to Topic
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Tracey.87
Starting Member



6 Posts
Posted - 10 May 2011 :  00:10:39  Show Profile  Visit Tracey.87's Homepage  Reply with Quote
my iva has failed . i was told that the bank wouldnt except £90 a month. im worried that when i declare my self bankrupt that i will be no better of as iv been told the truste will make me still pay monthly to them.

Viki.W
forum expert



United Kingdom
2211 Posts
Posted - 10 May 2011 :  07:46:27  Show Profile  Reply with Quote
Hi Tracey,

Did you actually start your IVA or was if rejected at creditors meeting?

If you have any surplus then you may have to pay and income payment agreement for 3 years.

Speak to your IP or an expert on here to go over your options.



Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
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Niobe
Administrator



United Kingdom
4590 Posts
Posted - 10 May 2011 :  16:51:43  Show Profile  Reply with Quote
It rather sounds like a DMP to me as I've not heard of an IVA being done for as low as £90.

I do agree with Viki - you need to speak to an expert but you could well end up making payments towards bankruptcy for three years.



Double, double toil and trouble;
Fire burn, and cauldron bubble.

Jan
xx
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