Advice on bankruptcy or IVA with low income and work assets

[Tiredboymum22]

We’re a low income family on UC and my husband has just had his hours drastically reduced. We have 20k of debt between us and we’re thinking of filing for bankruptcy or getting an IVA. A DRO might be tricky because our assets are over 2k although they are work related (PC, drone, cameras). Our disposable income also varies as my husband is self-employed (so stepchange wont help us).

Does anyone have any advice before we make a decision. Personal stories would be helpful. ChatGPT is recommending bankruptcy 🙈

If you own your own house they can want a share of that it you go bankrupt. Also if you have enough disposable income they want a portion of that too. Get yourself a financial advisor.
Once bankrupt you won't get credit. They say 5 years after but in reality it's more like 10 years. If I could go back in time I would've paid off my debt not go bankrupt.