I have over 15,000 of debt on loans, credit cards etc: i do not own anything of any value, and do not even have a home, i lodge with friends. and pay them rent. i am very behind in my payments and make not paid anything for a over a year as i cannot afford to. i work full time, but only bring home £1050 a month which goes on rent and petrol for work amongst other debts. i have applied to do my bankruptcy in a couple of weeks but am unsure whether i will qualify. i have been told i do not qualify for an IVA as do not have enough money.and as it cost near £500 i need to be sure to qualify otherwise i will only be in worse situation as i understand the money is not refunded if you do not qualify.
Morning Hari - welcome to the forum One of the BR experts will be along soon to answer your question fully. I declared myself BR recently having been in an IVA for two years. The experts will advise if there are any other options for you other than BR. Once the decision is made it will give you something to work towards and a fresh start. Good luck