Hi there, i have been on an IVA for 6 months, paying £275 per month and have recently had to move and the rent on my new property is £125 pre month more and my outgoings have changed due to new direct debits being set up. I have worked out my disposable income is now approx £190. My IVA company seem reluctant to help to reduce my IVA payment. Would bankruptcy be a better option for me even though i still have a reasonable amount of disposable income, I am very worried that i wont be able to afford to live properly if my IVA continues at £275. many thanks
I am surprised your company won't help you. Have you tried telling them that if they won't reduce it you will have no option but to go bankrupt?
As you have no assets, it will certainly be a consideration for you. You would need to let your IVA fail by missing three payments and get a certificate of non compliance. Missing the payments will mean that you can save up the cost of the court fees for BR.
Hi there, i have been on an IVA for 6 months,
Posted - 30 March 2009 : 19:15:34
