A Free Bankruptcy, IVA And Simple IVA, Insolvency Advice Forum

[vneal]

Hi i wonder if you can help. I'm after some advice on what to do/what is possible.

After years of handling my finances badly/living on credit I gave an IVA a go, As i was living with my partner at the time, it was based on our joint incomes. Shortly after i began the IVA i split up with my partner and struggled to make the repayments. I chose to end the IVA in favour of bankruptcy - however, because of this i have had to leave my job as my MD was questioning why i wouldn't sign the new contracts which had a clause saying that if any employee was made bankrupt, they would be dismissed.

I have got a new job, however because it is over 50 miles away I have not had the spare money to declare my bankruptcy. I have decided to move to be closer to work (which is another reason why i haven't been able to declare my bankruptcy as i've been saving for the deposits). The move means that i will be in a better position financially. So now I'm wondering whether i should try an IVA again - if this is even possible?

I have been officially released from my first IVA - and this was a year ago now.

I would be grateful of any advice you can give me.

Many thanks

[jacob2008]

Hi
This would be a tough question but if you have a clause in your contracts about bankruptcy then its only you that can decide what is right for you, have you taken independent legal advice?

If you do decide another IVA then don't be pushed into paying what you cannot afford and are you still paying your debts.

Regards

Jacob2008

Hi i wonder if you can help. I'm after some advice on what to do/what is possible.

After years of handling my finances badly/living on credit I gave an IVA a go, As i was living with my partner at the time, it was based on our joint incomes. Shortly after i began the IVA i split up with my partner and struggled to make the repayments. I chose to end the IVA in favour of bankruptcy - however, because of this i have had to leave my job as my MD was questioning why i wouldn't sign the new contracts which had a clause saying that if any employee was made bankrupt, they would be dismissed.

I have got a new job, however because it is over 50 miles away I have not had the spare money to declare my bankruptcy. I have decided to move to be closer to work (which is another reason why i haven't been able to declare my bankruptcy as i've been saving for the deposits). The move means that i will be in a better position financially. So now I'm wondering whether i should try an IVA again - if this is even possible?

I have been officially released from my first IVA - and this was a year ago now.

I would be grateful of any advice you can give me.