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My IVA (which i wish i never did in the first place) has failed because i cant keep up the monthly payments. I dont really know what to do, will I have to go bankrupt? or is there another solution?

 

Also what are the implications of bankruptcy, i dont own a house and i have no assets. I am working at the moment but only on a temporary contract, i am hoping to start my career this year.

 

Advice appreciated

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Usually once an IVA has failed the OR will go for bankrupcy. There is rarely any other way to go. It seems you have no assets to speak of so there is nothing to offer your creditors. I have to say that as long as your career doesn't prevent bankrupcy, it would seem the only option. You can get some help on Debt Help UK : Free debt advice and solutions, with debt consolidation | UK debt consolidation service with free help and advice as there are a few insolvency practitioners that post on the forum there.

 

Good luck.

Pam.

 

If anything I've said helps you then please feel free to tip my scales!

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Is it better for me to declare myself or make my creditors do it?

 

I am having trouble seeking advice, the citizens advice isn't very useful as you can't make appointments, any where else I can turn to?

 

thanks

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