RE: Have a read1 Aug 2021 23:55
Bob, tell your friend.
IVA you are paying the debt back in monthly installments that you can afford. Can go on for 6 years.
Bankruptcy depends on whether you have any assets. If so they have to be sold off to pay off the debt. Exceptions are pension and vans and tools that you need to work.
So in my case all I owned was my pension, van and tools. Everything else was in my partners name. If we had been married then they could have taken the lot.
So I ploughed the £13.5k in my SIPP into COPL at 0.04p which gave me 34 million shares plus a few I already had and then I traded in and out when the SP was bouncing up and down until I had 64 million shares. I was very lucky. And then Atomic came along. Thank you Arthur. I put it all down to my late Dad who was also called Arthur and he died when I was 8 years old.