Bankruptcy or IVA?
Should you choose bankruptcy or
IVA? This page hopes to answer that question.
Bankruptcy is generally seen as a last
option with a 'point of no return' sign. It is sometimes recommended by Insolvency practitioners
to individuals who really do not have any other option, and it depends on individual circumstances, it is
for the IP and the individual to decide. Clearly, researching and doing your own homework on the subject
matter will help no end in coming to a decision.
IVA better than Bankruptcy?
IVAs give you more options and does not leave as high and dry as bankruptcy would. Speak to an
IVA Expert, or
Insolvency practitioner for
professional advice.
Banruptcy wipes your debt clean off, but you're left without many options: possibly not being able to
get a mortgage or job ever again. You are forbidden from using a bank account during bankruptcy, and your
bankruptcy could last anywhere from five to fifteen years!
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